Production Commencement - Exploratory Well Kharo-1

Oil and Gas Development Company Ltd

15 January 2025

 

OIL & GAS DEVELOPMENT COMPANY LIMITED (BOARD SECRETARIAT)

CS04-08 (PSX/LSE/SECP)

January 15, 2025

The General Manager, Pakistan Stock Exchange Limited, Stock Exchange Building, Stock Exchange Road, Karachi-74000, Pakistan.

London Stock Exchange Plc., 10 Paternoster Square, London EC4M 7LS. Tel: [phone]

Subject:   Production Commencement - Exploratory Well Kharo-1

Dear Sir,

We are pleased to announce that Kharo-1 well has been successfully brought into production. Kharo-1 well is currently producing 20 barrels per day (BPD) of oil and 5.0 million standard cubic feet per day (MMSCFD) of gas. The well has been connected to the OGDCL Sinjhoro Processing Plant after laying of 6"-12.5 Km flow line from well site to Chabaro merging point, with the gas seamlessly integrated into the SSGC network.

OGDCL operates the Khewari Block with a 95% working interest, while Government Holding Private Limited (GHPL) holds the remaining 5%. The well is located in the Khairpur District of Sindh province.

This achievement highlights OGDCL's unwavering commitment to operational excellence and its crucial role in strengthening Pakistan's energy landscape, reinforcing its position as a leader in the hydrocarbon sector.

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.

 

END