REG - Oil and Gas Devt Co - Production Optimization- Nashpa-4 Well

Oil And Gas Development CoAnnouncement

01/07/2024 07:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240701:nRSA5519Ua&default-theme=true

RNS Number : 5519U  Oil and Gas Development Company Ltd  01 July 2024

CS04-08 (PSX/LSE/SECP)

July 01, 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

 Fax No. (92-21) 3241 0825, 3241 5136

 

Subject:        PRODUCTION OPTIMIZATION - NASHPA-4 WELL

 

Dear Sir,

 

We are pleased to announce that Oil and Gas Development Company Limited
(OGDCL) has successfully revitalized Nashpa-4 well. The well was re-evaluated
for the potential of the upper zone of the Lockhart formation, resulting in an
increase of 330 barrels per day (BBL/day) of oil and 7.7 million standard
cubic feet per day (MMSCF/day) of gas at a wellhead flowing pressure (WHFP) of
1570 PSI. Additionally, 21 metric tons per day (MT/day) of LPG is being
recovered. The gas is now being injected into the SNGPL network.

 

Nashpa-4 well is situated within the Nashpa Development and Production Lease
(D&PL) in the Karak district of the Khyber Pakhtunkhwa province. Nashpa
D&PL operates under a joint venture, wherein OGDCL as operator, possessing
a 56.45% stake, alongside Pakistan Petroleum Limited (PPL) with a 28.55%
share, and Government Holding Private Limited (GHPL) holds 15% share.

 

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCZZGGNVMKGDZG