KARACHI - The wellhead price of Sui and Kandhkot, two oil and gas fields of Pakistan Petroleum Ltd., one of the leading state-run oil and gas exploration & production company may rise up to 23 percent in July 2008 amid upcoming revision in wellhead prices. However, it is difficult to anticipate the new price of the Qadirpur gas field as the management is in negotiations with the government regarding the removal of US$200 per ton ceiling on benchmark HSFO price. As mentioned by OGDC's management in, Qadirpur gas pricing issue is expected to be resolved by June 2008. Similar to the previous wellhead price revision (for the period of 2HFY08), the PPL is anticipated to be the prime beneficiary of the price adjustments as the both fields contribute around 80% gas production of the company. Moreover, wellhead price of Sawan (third biggest contributor to PPL's gas production) is also expected to improve by 15%. According to the research analyst of JS Global, the first biannual wellhead price revision for FY09 is expected in late July 2008. This revision would be based on Arab Light Crude and HSFO prices in the period of Dec-May FY08, during which fuel prices remained significantly high. Since this period is already complete, the new wellhead prices for many of the key gas producing fields can be forecasted. Wellhead gas prices in the country are fixed on half yearly basis in January and July every year, depending on the average Arab Light crude and HSFO prices during first six months of the preceding seven months period. In order to forecast the forthcoming revision and taking average from Arab Light and HSFO prices for the period Dec-May FY08. The Arab Light average during this period stood at US$98.4/barrel versus US$75.2/barrel in the previous six months, depicting a massive growth of 36%. Similarly, HSFO prices also soared by 25% to US$500/ton in the same period.