REG - Oil and Gas Devt Co - Production Commencement- Exploratory Well Baloch-2

Oil And Gas Development CoAnnouncement

24/10/2024 07:00

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RNS Number : 4446J  Oil and Gas Development Company Ltd  24 October 2024

   OIL & GAS DEVELOPMENT COMPANY LIMITED

   (BOARD SECRETARIAT)

CS04-08 (PSX/LSE/SECP)

October 24, 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

 

 

Subject:        Production Commencement - Exploratory Well Baloch-2,
District Sanghar, Sindh

Dear Sir,

Further to our disclosure on August 30, 2024, regarding gas condensate
discovery at Baloch-2 in Sembar formation, we are pleased to announce that the
well has now been brought into production in Sinjhoro block.

2        The Company's in-house expertise was key in delineating,
drilling, and testing the structure. Drilled to a depth of 3,920 meters, the
well is currently producing 350 barrels per day (BPD) of oil and 5 million
standard cubic feet per day (MMSCFD) of gas. The production is connected to
the Sinjhoro Processing Plant, with gas being injected into the SSGCL network.

3.       This venture is a collaboration between OGDCL (76% Working
Interest), Orient Petroleum Inc. (19%), and GHPL (5%). The well is located in
Sanghar district, Sindh province.

4.       OGDCL is focused on fast-tracking exploration, drilling, and
production to enhance national energy security and contribute to Pakistan's
sustainable development.

5.       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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