FLASHNEWS:

Nashpa Well-10 Sees Significant Production Increase Following Rigless Interventions

Karachi, The Oil and Gas Development Company Limited (OGDCL) has announced a significant increase in production at Nashpa Well-10, now reaching 1870 barrels per day (BPD) of oil, following successful optimization initiatives. The enhancement efforts, which included rigless interventions such as perforation washes across multiple geological formations, have also led to increased gas output and LPG recovery.

According to Oil and Gas Development Company Limited, the recent production achievements at Nashpa Well-10 follow previous interventions reported on September 13, 2023, which initially elevated oil production to 1340 BPD. The current measures have further optimized the well's output across the Datta, Shinawari, Samanasuk, Lumshiwal, and Hangu formations.

As a result of these efforts, the well now also produces 7.02 million standard cubic feet per day (MMSCFD) of gas, which is being injected into the Sui Northern Gas Pipelines Limited (SNGPL) network. Additionally, the operations have started to recover 10 metric tons of LPG per day.

This information has been released in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the Pakistan Stock Exchange (PSX) Regulations, ensuring transparency and ongoing communication with investors and stakeholders about significant operational developments.