REG - Oil and Gas Devt Co - PRODUCTION ENHANCEMENT – NASHPA WELL-10

Oil And Gas Development CoAnnouncement

13/09/2023 08:15

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RNS Number : 3002M  Oil and Gas Development Company Ltd  13 September 2023

 

No.CS04-08/
(PSX/LSE/SECP)
     September 13, 2023

 

 The General Manager,                                        London Stock Exchange Plc.

 Pakistan Stock Exchange Limited, Stock Exchange Building,   10 Paternoster Square,

 Stock Exchange Road,                                        London EC4M 7LS

 Karachi                                                     Tel: (44) 20 7334 8907

 

Subject:        PRODUCTION ENHANCEMENT- NASHPA WELL-10

 

Dear Sir,

 

OGDCL is delighted to announce a significant production increment at the
Nashpa Well - 10 as part of its production enhancement campaign. The well is
situated within the Nashpa Development and Production Lease (D&PL) in the
Karak district of the Khyber Pakhtunkhwa province.

 

Focused on implementing production enhancement strategy, rigless intervention
in the Hangu-Lumshiwal formation has resulted in a considerable upsurge in
hydrocarbon production, with an additional output of 900 BPD of oil at a
wellhead flowing pressure (WHFP) of 720 PSI. The enhanced production from the
well commenced on September 12, 2023. Consequently, the cumulative production
from the well now stands at 1340 BPD of oil. The gas is being injected into
the SNGPL network.

 

Nashpa D&PL operates under a joint venture, wherein OGDCL is the operator,
possessing a 56.45% stake, alongside Pakistan Petroleum Limited (PPL) with a
28.55% share, and Government Holding Private Limited (GHPL) which holds a 15%
share. Nashpa-10 has been in production since December 27, 2020. Prior to the
enhancement, the well was producing 440 BPD of oil and 3.40 MMSCFD of gas at a
WHFP of 710 PSI from the Datta, Shinawari, and Samanasukh formations.

 

The above information is submitted in compliance with 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)

A/Company Secretary

 

 

Copy

Executive Director/HOD, SECP, Offsite-II Department, Supervision Division,
SECP, Islamabad

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