CS04-08 (PSX/LSE/SECP)

January 23, 2025

Subject: Production Optimization at Kunnar Oil Field

Dear Sir,

We are pleased to disclose the following information in compliance with Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, for dissemination amongst your members:

Production Enhancement - Kunnar-12 Well

Enhancement of oil production from Kunnar-12 well, situated in District Hyderabad, Sindh. The well is part of OGDCL's Kunnar Oil Field, with a 100% working interest in Kunnar Mining Lease Area.

Following a reassessment of the well's potential through production optimization, OGDCL deployed a rig to replace the conventional Jet Pump with an Electrical Submersible Pump (ESP). These measures have increased production at Kunnar Well-12 from 1,060 barrels per day (BPD) to 1,820 BPD, an increase of 760 BPD.

Production Enhancement - Kunnar-6 Well

Kunnar-6 well, previously shut-in due to high water production and low oil recovery, has been successfully revived following a comprehensive plan. A series of rigless interventions in the Lower Goru Upper Sand, combined with re-completion using an artificial lift system (ESP), have optimized its performance. Kunnar-6 is now producing at a rate of 400 barrels per day (BPD) of oil.

These interventions have collectively resulted in an incremental production of 1,160 BPD from Kunnar Oil Field. This achievement highlights OGDCL's technical expertise, innovative strategies, and commitment to maximizing production from its assets, reaffirming its role as a key contributor to the nation's energy security.

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.