PPL discovers gas & condensate in Sindh in major exploration win

Business Recorder reported that Pakistan Petroleum Limited (PPL) has found gas at its Dolphin X-1 well in Sujawal district, Sindh, and disclosed the find in a filing lodged with the Pakistan Stock Exchange on Monday. PPL operates the Sirani Exploration License with a 75% working interest, while its joint venture partner, Government Holdings (Private) Limited, holds the other 25%. The company said the result confirms a petroleum system and opens a new exploration area across onshore marshy land and possible extensions into shallow offshore waters.

Drilling began on 17th April 2026 and reached 3,850 meters MD to test the Chiltan Formation. After post-acid testing, good quality gas with a heating value near 1,000 Btu/scf flowed at 0.942 MMscfd. Earlier, during pre-acid testing, condensate came up at 94 barrels per day, dropping to 46 bpd within 24 hours, though none appeared in later tests.

The company views the early condensate as a hopeful sign for more work on the formation. In a separate note, Arif Habib Limited (AHL) estimated that the find would add roughly Rs0.09 per share a year to PPL.