Islamabad: The Oil and Gas Development Company Limited (OGDCL) has announced a significant enhancement in the production capacity of the Nashpa-4 well, located in the Karak district of Khyber Pakhtunkhwa province. This revitalization effort has successfully increased the well's output by 330 barrels of oil per day and 7.7 million standard cubic feet of gas per day, alongside 21 metric tons of LPG per day.
According to Oil and Gas Development Company Limited, the re-evaluation of the Nashpa-4 well targeted the upper zone of the Lockhart formation. This initiative has not only increased oil and gas production but also contributed to the local energy supply by injecting the additional gas into the SNGPL network. The well operates under a joint venture framework, with OGDCL holding a 56.45% stake, Pakistan Petroleum Limited (PPL) at 28.55%, and Government Holding Private Limited (GHPL) possessing the remaining 15%.
This production enhancement aligns with OGDCL's ongoing efforts to optimize resource extraction and bolster the national energy infrastructure, contributing significantly to the region's economic and energy stability. The development was reported in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations, ensuring transparency and regular updates to stakeholders.