Karachi, The Oil and Gas Development Company Limited (OGDCL) has reached a significant milestone in its mission to optimize production, announcing the commencement of production at the Nashpa-11 development well. This achievement showcases OGDCL's commitment to enhancing oil and gas exploration and development activities in Pakistan.

The Nashpa-11 well, strategically drilled to a depth of 4,485 meters, has yielded impressive results in terms of hydrocarbon potential. The drilling targeted the Lumshiwal, Hangu, and Lockhart formations, and initial tests have reported a production rate of 830 barrels per day (BPD) of oil and 1.0 million standard cubic feet per day (MMSCFD) of gas. This impressive output is currently being channeled through a 32/64" choke at a wellhead flowing pressure (WHFP) of 520 PSI.

As of today, September 11, 2023, the Nashpa-11 well has been successfully connected to the OGDCL Nashpa plant via a 1.8-kilometer flow line. Additionally, the produced gas is being injected into the Sui Northern Gas Pipelines Limited (SNGPL) network, contributing to Pakistan's energy supply.

This development marks a collaborative effort, with OGDCL serving as the operator, holding a majority stake of 56.45%. The partnership also includes Pakistan Petroleum Limited (PPL), holding a significant 28.55% share, and Government Holding Private Limited (GHPL) with a 15% share, showcasing a concerted effort among industry players to harness the nation's energy potential.

The announcement and pertinent details are being provided in accordance with Section 96 of the Securities Act, 2015, and Clause 5.6.l(a) of PSX Regulations, ensuring transparency and information dissemination to stakeholders and members of the investment community.

OGDCL's successful commencement of production at the Nashpa-11 well reinforces its dedication to advancing the energy sector in Pakistan, underlining the country's potential as a prominent player in the global energy landscape.