PRODUCTION ENHANCEMENT – NASHPA WELL-10

Oil and Gas Development Company Ltd

13 September 2023

 

No.CS04-08/ (PSX/LSE/SECP)                                                 September 13, 2023

The General Manager, Pakistan Stock Exchange Limited, Stock Exchange Building, Stock Exchange Road, Karachi

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

Subject:        PRODUCTION ENHANCEMENT- NASHPA WELL-10

Dear Sir,

OGDCL is delighted to announce a significant production increment at the Nashpa Well - 10 as part of its production enhancement campaign. The well is situated within the Nashpa Development and Production Lease (D&PL) in the Karak district of the Khyber Pakhtunkhwa province.

Focused on implementing production enhancement strategy, rigless intervention in the Hangu-Lumshiwal formation has resulted in a considerable upsurge in hydrocarbon production, with an additional output of 900 BPD of oil at a wellhead flowing pressure (WHFP) of 720 PSI. The enhanced production from the well commenced on September 12, 2023. Consequently, the cumulative production from the well now stands at 1340 BPD of oil. The gas is being injected into the SNGPL network.

Nashpa D&PL operates under a joint venture, wherein OGDCL is the operator, possessing a 56.45% stake, alongside Pakistan Petroleum Limited (PPL) with a 28.55% share, and Government Holding Private Limited (GHPL) which holds a 15% share. Nashpa-10 has been in production since December 27, 2020. Prior to the enhancement, the well was producing 440 BPD of oil and 3.40 MMSCFD of gas at a WHFP of 710 PSI from the Datta, Shinawari, and Samanasukh formations.

The above information is submitted in compliance with 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

Executive Director/HOD, SECP, Offsite-II Department, Supervision Division, SECP, Islamabad

 

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