CS04-08 (PSX/LSE/SECP)

March 24, 2026

Subject:          OGDCL Commences Oil Production from Pasakhi-13 - Pakistan's First  Successful Horizontal Oil Well in Clastic Reservoirs

Dear Sir

We are pleased to inform that Oil and Gas Development Company Limited (OGDCL), has successfully commenced oil production from its development well Pasakhi-13, marking a historic milestone as Pakistan's first successful horizontal oil well in clastic reservoir (lower Goru - A sand).

Pasakhi-13 is located in District Hyderabad, Sindh province and producing 460 barrels of oil per day (BPD). The well was drilled to a measured depth of 2,966 meters, including a 546-meter horizontal section with application of geo-steering technology, enabling precise navigation within a narrow 3-meter drilling window to optimally target the sweet spot within reservoir.

Furthermore, the well was completed and tested using a short string Electric Submersible Pump (ESP), optimized for horizontal well configurations. Despite challenging reservoir characteristics, horizontal drilling enabled enhanced reservoir exposure, delivering nearly threefold higher production compared to offset wells under similar conditions. 

Pasakhi-13 well is part of the Pasakhi & Pasakhi North Development & Production Lease (D&PL), where OGDCL holds a 100% working interest. The achievement reinforces OGDCL's commitment to technical excellence, innovation, and deployment of advanced technologies in line with global standards, while advancing indigenous hydrocarbon production and strengthening Pakistan's energy security.

The above information is being submitted in compliance with Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of the PSX Regulations for dissemination among your members.

Yours Sincerely,

(Wasim Ahmad)

Company Secretary

Copy:

Executive Director/HOD, Supervision Division, SECP, Islamabad.