Karachi: Pakistan Petroleum Limited (PPL) has announced a significant discovery of hydrocarbons at its exploratory well Baragzai X-01 (Slant) in the Nashpa Block, located in district Kohat, Khyber Pakhtunkhwa Province. The company disclosed the findings on January 20, 2026, in continuation of earlier communications regarding the exploration efforts undertaken in collaboration with its joint venture partners.

The Nashpa Block is operated by Oil & Gas Development Company Limited (OGDCL), which holds a 65% working interest. Pakistan Petroleum Limited holds a 30% working interest, while Government Holdings (Private) Limited (GHPL) carries a 5% interest. The well was initially spudded-in on December 30, 2024, and successfully reached a target depth of 5,170 meters within the Kingriali Formation.

The discovery was made from two exploratory targets, Samana Suk and Shinawari Formations, after a series of evaluations and tests. Based on wireline logs and subsequent Cased Hole Drill Stem Tests (CHDSTs) conducted in the Kingriali and Datta Formations, oil and gas were initially discovered. The recent successful Cased Hole Drill Stem Test (DST-3) in the Samana Suk and Shinawari Formations resulted in a flow rate of 3,100 barrels per day (BPD) of oil and 8.15 million standard cubic feet per day (MMSCFD) of gas, with a wellhead flowing pressure of 3,010 pounds per square inch (Psi) at a 32/64″ choke.

According to information available from the Pakistan Stock Exchange (PSX), this discovery has de-risked exploration activities for deeper reservoirs within the Nashpa Block, presenting new opportunities for further exploration. The discovery is expected to enhance the indigenous hydrocarbon supply in Pakistan and contribute to the country’s hydrocarbon reserves.

The dissemination of this information aligns with compliance requirements as per Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the Pakistan Stock Exchange Limited Regulations.