Production Enhancement

Oil and Gas Development Company Ltd

31 July 2023

 

CS04-08 (PSX/LSE/SECP)

July 31, 2023

The General Manager, Pakistan Stock Exchange Limited, Stock Exchange Building, Stock Exchange Road, Karachi-74000, Pakistan. Fax No. (92-21) 3241 0825, 3241 5136

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

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

 

END