REG - Oil and Gas Devt Co - Revival of Dars West-2 Well: Production

Oil And Gas Development CoAnnouncement

24/12/2024 09:15

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RNS Number : 2794R  Oil and Gas Development Company Ltd  24 December 2024

   OIL & GAS DEVELOPMENT COMPANY LIMITED

   (BOARD SECRETARIAT)

CS04-08 (PSX/LSE/SECP)

December 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:        Revival of Dars West-2 Well: Production Commencement
from
                  (B-Sand)-Lower Goru Formation

Dear Sir,

Oil & Gas Development Company Limited (OGDCL) is pleased to announce the
successful revival of Dars West-2 Well, achieving hydrocarbon production from
a new interval; the B-Sand of the Lower Goru Formation. This significant
achievement underscores OGDCL's commitment to maximizing hydrocarbon recovery
through innovative and efficient rigless interventions.

 

As previously announced by the Company on December 8, 2023, Dars West-2 Well
was completed in the C-Sand of the Lower Goru Formation and integrated into
the production system on 31st January 2024. However, due to a decline in
wellhead production, the Well ceased to flow on September 24, 2024.

 

Subsequent analysis, including a Bottom Hole Pressure & Temperature
(BHP&T) survey, revealed no further production prospects in C-Sand
interval. Following this assessment, the C-Sand was isolated, and the Well was
successfully perforated and completed in the B-Sand of the Lower Goru
Formation.

 

Currently, Dars West-2 Well is contributing 200 barrels per day (BPD) of oil,
8.0 million standard cubic feet per day (MMSCFD) of gas, and 37 metric tons
per day (MTD) of liquefied petroleum gas (LPG). The produced gas is being
processed at OGDCL's Kunnar Pasakhi Deep-Tando Allah Yar Plant and is
seamlessly integrated into Sui Southern Gas Company Limited (SSGCL) network,
supporting the national gas supply.

 

Located in Tando Allah Yar district, Sindh Province, the Dars West-2 Well lies
within the Dars West Development and Production Lease (D&PL), with OGDCL
serving as the operator (77.5% working interest) and GHPL as a joint venture
partner (22.5% carried). This successful revival exemplifies OGDCL's expertise
in well optimization and reinforces the Company's dedication to enhancing
production from its existing assets.

 

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, SECP, 63, NIC Building, Jinnah Avenue, Islamabad.

 

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