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Oil And Gas Development CoAnnouncement

25/09/2024 07:00

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RNS Number : 5852F  Oil and Gas Development Company Ltd  25 September 2024

   OIL & GAS DEVELOPMENT COMPANY LIMITED

   (BOARD SECRETARIAT)

CS04-08 (PSX/LSE/SECP)

September 25, 2024

 The General Manager,                   London Stock Exchange Plc.,

 Pakistan Stock Exchange Limited,       10 Paternoster Square,

Stock Exchange Building,

                                      London EC4M 7LS.
 Stock Exchange Road,

Karachi-74000, Pakistan.

                                        Tel: (44) 20 7334 8907

 Fax No. (92-21) 3241 0825, 3241 5136

 

 

Subject:        Discovery of Hydrocarbons in Sawan South Block at Akhiro-1
Exploratory Well, District Khairpur, Sindh Province

Dear Sir,

 

We are pleased to announce that Sawan South Joint Venture, comprising Oil and
Gas Development Company Limited (OGDCL) (20% working interest), United Energy
Pakistan Limited (UEPL), the Operator (75%), Government Holding Private
Limited (GHPL) (2.5%) and Sindh Energy Holding Limited (SEHL), (2.5%) has
discovered gas from Lower Gour B Reservoir Sand of Akhiro-1 well located in
district Khairpur, Sindh Province.

 

The well was spudded-in on June 15, 2024 and has been successfully drilled
down to the depth of 12,442 ft MD. The well was tested successfully at the
rate around 10 Million Standard Cubic Feet per Day (MMSCFD) gas at choke size
24/64" at Wellhead Flowing Pressure (WHFP) of 4000 Pounds per Square Inch
(Psig).

The new discovery has de-risked further exploration play in Sawan South Block.
The said discovery will also help and contribute towards improving energy
security of the country from indigenous resources and add to the hydrocarbon
reserves base.

The above information is submitted in compliance of Section 96 of the
Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, for dissemination
amongst your members please.

Yours Sincerely,

 
 

 

 

(Wasim Ahmad)

  Company Secretary

 

 

Copy:

 

Executive Director/HOD,

Offsite-II Department, Supervision Division,

Securities & Exchange Commission of Pakistan,63,

NIC Building, Jinnah Avenue, Blue Area,

Islamabad.

 

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