REG - Oil and Gas Devt Co - Material Information

Oil And Gas Development CoAnnouncement

20/01/2025 07:00

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RNS Number : 9274T  Oil and Gas Development Company Ltd  20 January 2025

 

                 OIL & GAS DEVELOPMENT COMPANY LIMITED

                                   (BOARD SECRETARIAT)

No.CS04-08/ (PSX/LSE/SECP)                                                                 January 20, 2025

 

 The General Manager                London Stock Exchange Plc.

 Pakistan Stock Exchange Limited,   10 Paternoster Square,

 Stock Exchange Building,           London EC4M 7LS

 Stock Exchange Road,               Tel: (44) 20 7334 8907

 Karachi

 

Subject:          Material Information

 

Dear Sir,

We are pleased to disclose the following information in compliance with
Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations,
for dissemination amongst your members:

Production Enhancement- Pasakhi-7 Well

Oil & Gas Development Company Limited (OGDCL) announces the enhancement of
oil production from the Pasakhi-7 well, located in District Hyderabad, Sindh.
The well is part of the Pasakhi Development & Production Lease (D&PL),
where OGDCL holds a 100% working interest.

As part of its optimization efforts, OGDCL deployed a rig to replace the
tubing and re-complete the well using an artificial lift system (Jet Pump).
Additionally, the Company introduced Multiphysio Chemical Stimulation
technology, marking its first use in the Southern Region. These measures have
increased production at Pasakhi Well-7 from 375 barrels per day (BPD) to 520
BPD, an increment of 145 BPD.

Production Commencement-- Chak 212-1 Exploratory Well

Chak 212-1, an exploratory well, is the first-ever discovery in the Mari East
Block, located in the Rahim Yar Khan district of Punjab province, where OGDCL
holds 100% working interest.

 

Following the laying of a 4"-14.5 km flow line from the well site to Maru-1
facility, gas from Chak 212-1 is now being supplied to M/s Engro Fertilizer.
Currently 2.0 MMSCFD gas is being supplied.

OGDCL remains focused on optimizing production, ensuring energy security, and
fostering sustainable development.

Yours sincerely,

 

 

 

 

(Wasim Ahmad)

Company Secretary

Copy

Executive Director/HOD

Offsite-II Department, Supervision Division,

Securities and Exchange Commission of Pakistan

Islamabad.

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