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| Date | 8 Jul 2024 |
| Time | 09:51:59 |
| Category | Corporate updates |
| ID | 4990V |
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OIL & GAS DEVELOPMENT COMPANY LIMITED (BOARD SECRETARIAT) |
CS04-08 (PSX/LSE/SECP)
July 08, 2024
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The General Manager, Pakistan Stock Exchange Limited, Stock Exchange Road,
Fax No. (92-21) 3241 0825, 3241 5136 |
London Stock Exchange Plc., 10 Paternoster Square, London EC4M 7LS.
Tel: (44) 20 7334 8907 |
Subject: PRODUCTION OPTIMIZATION - KUNNAR-11 WELL
Dear Sir,
We are pleased to announce that Oil and Gas Development Company Limited (OGDCL) has successfully revitalized Kunnar-11 well. After re-assessing its potential using production optimization techniques and completing the well with Electrical Submersible Pump (ESP), the Kunnar-11 is now producing 960 barrels of oil per day.
Kunnar well-11 is located in Hyderabad district, Sindh province and is part of the OGDCL Kunnar Oil Field. OGDCL owns 100% working interest in the Kunnar Mining Lease Area. This initiative highlights OGDCL's commitment to optimizing production and demonstrates the effectiveness of modern recovery techniques in rejuvenating mature wells.
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.
