Karachi: Oil and Gas Development Company Limited (OGDCL) has reported substantial progress in its energy development initiatives with the completion of an Electrical Submersible Pump (ESP) installation at its Rajian-05 well. This project, following a planned workover, has led to a very large or significant move in production, achieving an output of 3,100 barrels of oil per day (BPD) and 1.00 million standard cubic feet per day (MMSCFD) of gas. Previously, production was recorded at 820 BPD and 0.50 MMSCFD.

The Rajian Field, situated in District Chakwal under the Gujar Khan Exploration License, is entirely owned and managed by OGDCL. Since its discovery in August 1994, the field has played a crucial role in the company’s asset portfolio. The recent success at Rajian-05, where ESPs have been previously installed in two wells, underscores OGDCL’s commitment to enhancing the value of its existing assets through data-driven redevelopment strategies.

According to information available from the Pakistan Stock Exchange (PSX), this development is in alignment with OGDCL’s strategic focus on optimizing domestic energy resources to ensure long-term sustainability and national energy security. The information was submitted in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations.