Commencement of Tight Gas Production - Nur West -1

CS04-08 (PSX/LSE/SECP)

August 12, 2024

Subject: Commencement of Tight Gas Production from Nur West Well-1

Dear Sir,

Oil & Gas Development Company Limited (OGDCL) is pleased to report the commencement of early commercial production of Tight Gas from Nur West Well-1. OGDCL holds 100% working interest in Nur Development & Production Lease (D&PL), located in district Sujawal, Sindh Province.

The well currently produces 1.5 MMSCFD of gas with a wellhead flowing pressure of 1050 PSI, sourced from the Lower Guru formation ('A' Sand). The gas has been integrated into the Sui Southern Gas Company Limited (SSGCL) network, consequently strengthening the national gas supply infrastructure.

Nur West #01 well was drilled to a depth of 2,975 meters. The well encountered a tight formation, and conventional testing methods did not yield favorable outcomes. Hydraulic fracturing was subsequently employed to achieve production viability.

OGDCL has formulated a Tight Gas exploration and development roadmap which is currently under implementation, reaffirming the Company's commitment to augmenting energy resources, securing national energy needs, and promoting sustainable development across Pakistan.

The above information is submitted in compliance of Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, for dissemination amongst your members please.

Yours Sincerely,

(Wasim Ahmad)

  Company Secretary

Copy:

Executive Director/HOD, SECP, Offsite-II Department, Supervision Division,

Jinnah Avenue, Blue Area ,63, NIC Building, Islamabad