Sui and Kandhkot are the major fields of PPL   KARACHI, Oct 30 (Reuters) - State-run Pakistan Petroleum Ltd (PPL) reported a 26 percent jump in first quarter net profit on Tuesday, boosted by higher oil and natural gas prices and increased oil production. In a statement to the Karachi Stock Exchange (KSE), PPL (PPL.KA: Quote, Profile, Research), which operates Pakistan's largest gas field at Sui in the troubled southwestern province of Baluchistan, earned a net profit of 4.8 billion rupees ($79.10 million) in the quarter ending Sept. 30. That compares to a net profit of 3.80 billion rupees in the corresponding period last year. "The reason for the increase is due to higher well head prices in Sui and Kandhkot fields coupled with increased oil production from Adhi field," said Faraz Farooz, analyst at First Capital Equities Ltd. Sui and Kandhkot are the major fields of PPL and account for 80 percent of PPL's overall gas production. According to the Pakistan Petroleum Information Services (PPIS), the well head prices increased by 7 percent to 93.91 per million British thermal units. Analysts said PPL's earnings rose following increased production in Adhi field. The average production in the quarter ending Sept. 30, 2007 was more than double at 4,354 barrels per day compared to 1,766 barrels per day in the year-ago period. PPL's sales increased to 10.33 billion rupees for July to September quarter compared to 8.81 billion rupees in the corresponding period in previous year. The result was in line with analysts' forecasts ranging between 4.7 billion and 5.0 billion rupees.