PPL forecasts 600–650 mmcfde production, drives exploration push

November 11, 2025 (MLN): Pakistan Petroleum Limited (PSX: PPL) conducted its corporate briefing session, sharing key operational and strategic updates, including an anticipated production boost, expanded exploration activity, and continued diversification beyond hydrocarbons.

As the government negotiates the deferment of RLNG cargoes with Qatar, PPL expects the development to raise gas production by over 50m cubic feet per day (mmcfd) once the current curtailment is lifted.

The company forecasts average production of 600–650 mmcfde in FY26, supported by new drilling and seismic programs.

For the upcoming period, a total of 15 new wells are planned primarily exploratory alongside around 700 line-km of 2D and 600 sq-km of 3D seismic acquisition.

Drilling campaigns are set to be carried out across Kandhkot, Shah Bandar, Gambat South, and Sirani, with development wells in Gambat South and Shah Bandar aimed at sustaining output levels.

PPL also reported continued improvement in financial performance metrics. The company’s cash collection ratio rose to 91% in FY25, up from 81% in FY24, while in 1QFY26 it stood at 87%, showing progress in receivables recovery and operational efficiency.

In the medium term, management anticipates a structural shift in revenue composition, with minerals and the Reko Diq venture expected to play an increasingly vital role in earnings diversification beyond conventional oil and gas.

This strategic transition stresses PPL’s long-term vision to expand into high-value mineral assets and sustain growth amid a changing global energy landscape.

Through a mix of exploration expansion, production optimization, and strategic diversification, PPL continues to reinforce its position as a key contributor to Pakistan’s energy security and industrial development.

Copyright Mettis Link News