REG - Oil and Gas Devt Co - Production Optimization at Kunnar Oil Field

Oil And Gas Development CoAnnouncement

23/01/2025 07:00

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RNS Number : 4341U  Oil and Gas Development Company Ltd  23 January 2025

   OIL & GAS DEVELOPMENT COMPANY LIMITED

   (BOARD SECRETARIAT)

CS04-08 (PSX/LSE/SECP)

January 23, 2025

 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 Optimization at Kunnar Oil Field

 

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 - Kunnar-12 Well

Enhancement of oil production from Kunnar-12 well, situated in District
Hyderabad, Sindh. The well is part of OGDCL's Kunnar Oil Field, with a 100%
working interest in Kunnar Mining Lease Area.

 

Following a reassessment of the well's potential through production
optimization, OGDCL deployed a rig to replace the conventional Jet Pump with
an Electrical Submersible Pump (ESP). These measures have increased production
at Kunnar Well-12 from 1,060 barrels per day (BPD) to 1,820 BPD, an increase
of 760 BPD.

 

Production Enhancement - Kunnar-6 Well

Kunnar-6 well, previously shut-in due to high water production and low oil
recovery, has been successfully revived following a comprehensive plan. A
series of rigless interventions in the Lower Goru Upper Sand, combined with
re-completion using an artificial lift system (ESP), have optimized its
performance. Kunnar-6 is now producing at a rate of 400 barrels per day (BPD)
of oil.

 

These interventions have collectively resulted in an incremental production of
1,160 BPD from Kunnar Oil Field. This achievement highlights OGDCL's technical
expertise, innovative strategies, and commitment to maximizing production from
its assets, reaffirming its role as a key contributor to the nation's energy
security.

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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