REG - Oil and Gas Devt Co - Commencement of Tight Gas Production - Nur West -1

Oil And Gas Development CoAnnouncement

12/08/2024 07:45

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RNS Number : 0517A  Oil and Gas Development Company Ltd  12 August 2024

   OIL & GAS DEVELOPMENT COMPANY LIMITED

   (BOARD SECRETARIAT)

CS04-08 (PSX/LSE/SECP)

August 12, 2024

 The General Manager,                   London Stock Exchange Plc.,

 Pakistan Stock Exchange Limited,       10 Paternoster Square,

Stock Exchange Building,

                                      London EC4M 7LS.
 Stock Exchange Road,

Karachi-74000, Pakistan.

                                        Tel: (44) 20 7334 8907

 Fax No. (92-21) 3241 0825, 3241 5136

 

Subject: Commencement of Tight Gas Production from Nur West Well-1

 

Dear Sir,

Oil & Gas Development Company Limited (OGDCL) is pleased to report the
commencement of early commercial production of Tight Gas from Nur West Well-1.
OGDCL holds 100% working interest in Nur Development & Production Lease
(D&PL), located in district Sujawal, Sindh Province.

The well currently produces 1.5 MMSCFD of gas with a wellhead flowing pressure
of 1050 PSI, sourced from the Lower Guru formation ('A' Sand). The gas has
been integrated into the Sui Southern Gas Company Limited (SSGCL) network,
consequently strengthening the national gas supply infrastructure.

Nur West #01 well was drilled to a depth of 2,975 meters. The well encountered
a tight formation, and conventional testing methods did not yield favorable
outcomes. Hydraulic fracturing was subsequently employed to achieve production
viability.

OGDCL has formulated a Tight Gas exploration and development roadmap which is
currently under implementation, reaffirming the Company's commitment to
augmenting energy resources, securing national energy needs, and promoting
sustainable development across Pakistan.

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, SECP, Offsite-II Department, Supervision Division,

Jinnah Avenue, Blue Area ,63, NIC Building, Islamabad

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