- 07 July 2025 10:26:03
- Source: Sharecast
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OIL & GAS DEVELOPMENT COMPANY LIMITED (BOARD SECRETARIAT) |
CS04-08 (PSX/LSE/SECP)
July 07, 2025
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The General Manager, Pakistan Stock Exchange Limited, Stock Exchange Road,
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London Stock Exchange Plc., 10 Paternoster Square, London EC4M 7LS.
Tel: (44) 20 7334 8907 |
Subject: ESP Success at Heavy Oil Well Rajian-05 Marks Substantial Progress in OGDCL's Energy Development Efforts
Dear Sir,
Oil and Gas Development Company Limited (OGDCL) has successfully completed the installation of Electrical Submersible Pump (ESP) at Rajian-05, resulting in a significant improvement in production. Following a planned workover and ESP deployment, production has increased to 3,100 BPD of oil and 1.0 MMSCFD of gas. Prior to this intervention, the well was producing 820 barrels of oil per day (BPD) and 0.5 million standard cubic feet per day (MMSCFD) of gas.
Rajian Field, located in District Chakwal and held under the Gujar Khan Exploration License, is 100% owned and operated by OGDCL. Discovered in August 1994, it has remained an integral part of the Company's portfolio. Two wells at Rajian had previously been completed with ESPs, and the recent result at Rajian-05 further supports OGDCL's efforts to maximize the value of existing fields through data-driven redevelopment planning.
This development reinforces the Company's continued focus on domestic energy resource optimization in support of long-term sustainability and national energy security.
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-SECP, Islamabad.
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