Karachi: Oil & Gas Development Company Limited (OGDCL) has announced the successful commissioning of the Jhal Magsi Development Project, a significant energy initiative located in the remote District Jhal Magsi, Balochistan.

The project, which began development activities in February 2024, is now delivering approximately 14 Million Standard Cubic Feet per Day (MMSCFD) of pipeline-quality gas and 45 Barrels per Day (BPD) of condensate. The gas has been integrated into the Sui Southern Gas Company Limited (SSGCL) network via a newly constructed 98-kilometer transportation line. This development marks a significant milestone in addressing the national energy requirements, executed on an accelerated timeline despite technical and territorial challenges.

Comprising two wells, the Jhal Magsi Field is a joint venture with OGDCL holding a 56% working interest, while Pakistan Oilfields Limited (POL) and Government Holdings Private Limited (GHPL) hold 24% and 20%, respectively. The project gained momentum following the Government of Pakistan's approval of incentives, including a conversion from the 1997 Petroleum Policy to the Marginal Field Gas Pricing Policy.

According to information available from the Pakistan Stock Exchange (PSX), this initiative is part of OGDCL's broader commitment to national energy security through the sustainable development of domestic hydrocarbon resources. The project involved the installation of various facilities, including an Amine Unit, Dehydration Unit, Hot Oil Package, power generation facilities, and gathering systems.

This information has been provided in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations, ensuring transparency and dissemination among stakeholders in the market category.