Pakistan Petroleum Limited (PPL), one of the country’s largest exploration and production (E&P) companies, has discovered oil and gas reserves in Attock, Punjab.
PPL disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday.
“We are pleased to disclose that PPL, the operator of Dhok Sultan (exploration license), has made an oil & gas discovery at its well “Dhok Sultan-03”, located in District Attock, Punjab,” read the notice.
This is the second discovery in the Dhok Sultan Block by the company, which holds a 75% working interest in the block, along with its joint venture partner, Government Holdings Private Limited (GHPL), which holds the remaining interest.
“After rigorous internal geological and geophysical evaluation and deliberations, the well Dhok Sultan-03 was spudded on 18th January 2025 and drilled down to a depth of 5,815 meters MD BKB (Measured Depth Below Kelly Bushing) to test the hydrocarbon potential of the naturally fractured carbonates of Patala and Lockhart formations.
“Potential hydrocarbon-bearing zones were identified in the said reservoirs based on the drilling results and acquired wireline logs interpretations.
“During testing, the well flowed 1,469 barrels per day of oil and 2.56 MMscfd of gas at Wellhead Flowing Pressure (WHFP) of 1,147 psig on a 32/64” choke, and 2,113 barrels per day of oil and 4.13 MMscfd of gas at WHFP of 813 psig on a 48/64” choke,” read the notice.
PPL said that the latest discovery highlights the substantial untapped hydrocarbon potential of the mature Potwar–Kohat sub-basin, which can be effectively unlocked by deploying advanced technologies in prospect evaluation and well drilling.
“In addition, this discovery will add additional hydrocarbon reserves and will save significant foreign exchange for the country through indigenous hydrocarbon production,” PPL added.
Meanwhile, Arif Habib Limited, in a note, estimated the well to have an annualised earnings impact of Rs1.38-2.01 per share on PPL.
As per a recent report, Pakistan’s hydrocarbon reserves have expanded significantly in recent months, driven primarily by successful exploration and upward revisions in existing fields.
The research report by Topline Securities, covering the six months ending in June 2025, highlights a robust reserve replacement ratio of 235% for gas and an increase in both gas and oil reserves across the country. Pakistan’s balance recoverable gas reserves have increased by 4.6%, while its balance recoverable oil reserves grew by nearly 1% percent, the report says.
