REG - Oil and Gas Devt Co - Production Enhancement

Oil And Gas Development CoAnnouncement

31/07/2023 10:45

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RNS Number : 7419H  Oil and Gas Development Company Ltd  31 July 2023

CS04-08 (PSX/LSE/SECP)

July 31, 2023

 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:            Production Enhancement

 

Dear Sir,

 

Oil and Gas Development Company Limited (OGDCL) is using cutting-edge
technologies for production optimization. Significant enhancement in
production has been achieved in July 2023; details are as under:

 

i.    Nim East-1: An exploratory well in a joint venture with OGDCL as
Operator (95%) and Government Holdings (Private) Limited (GHPL) (5%) is
located in District Tando Allah Yar, Sindh Province. After injecting it into
the system through a 6"-12.5 Km pipeline, the well resulted in an additional
production of 585 BPD oil, 7.4 MMSCFD gas, and 32 MTD LPG. The gas is being
injected into Sui Southern Gas Company Limited (SSGCL) network with effect
from July 20, 2023 and remained under observation till July 28, 2023.

 

ii.    Pasakhi-11: OGDCL installed an Electrical Submersible Pump (ESP) in
its 100% owned Pasakhi Oil Field, Well -11, situated in District Hyderabad,
Sindh. The intervention resulted in an incremental impact of 1010 BPD oil. The
well is currently producing 1810 BPD oil and still under observation for
optimum flow rates. The enhanced production from the well commenced with
effect from July 28, 2023.

 

iii.   Chak 2-1: An already producing exploratory well in a joint venture
with OGDCL as operator (62.5%), GHPL (22.5%) and Orient Petroleum Inc. (OPI)
(15%) located in District Sanghar, Sindh Province. Rigless intervention with
additional perforations resulted in an increment of 140 BPD oil, 4.7 MMSCFD
gas, and 11 MTD LPG. The gas is being injected into SSGCL network with effect
from July 20, 2023 and remained under observation till July 28, 2023.

 

iv.   Chak-V Dim South-3: An on-production development cum exploratory well
is located in Chak-5 Dim South Block, District Sanghar, Province with OGDCL
100% working interest. Rigless intervention with new perforations resulted in
incremental production of 130 BPD oil, 3.8 MMSCFD gas, and 8 MTD LPG. The gas
is being injected into SSGCL network with effect from July 24, 2023 and
remained under observation till July 28, 2023.

 

2.         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)

 
 
   A/Company Secretary

Copy:

Director/HOD, Office II, Department Supervision-SECP, Islamabad

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