Oil & Gas Development Company Limited (OGDCL), the country’s largest hydrocarbon exploration firm, has commenced hydrocarbon production from its new development well Nashpa-11.

The E&P firm announced the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday.

“We are pleased to share an encouraging development where the Nashpa-11 well has been successfully tested, completed, and brought into the production stream,” read the statement.

“This development is the result of OGDCL’s in-house expertise,” it added.

Sharing details, OGDCL said that the Nashpa-11 well was drilled to a depth of 4,485 meters, targeting the hydrocarbon potential within the Lumshiwal, Hangu, and Lockhart formations.

“Presently, these formations are yielding 830 BPD of oil and 1.0 MMSCFD of gas through a 32/64” choke at a wellhead flowing pressure (WHFP) of 520 PSI,“ said OGDCL.

The company shared that as of September 11, 2023, the well has been connected to the OGDCL Nashpa plant through a 1.8km flow line, and gas is being injected into the Sui Northern Gas Pipeline Limited (SNGPL) network.

Nashpa well is part of Nashpa Block which spans Khyber Pakhtunkhwa and the Punjab.

This venture is a collaborative effort where OGDCL stands as the operator, holding a 56.45% stake. The partnership also involves Pakistan Petroleum Limited (PPL), which holds a 28.55% share, and Government Holding Private Limited (GHPL) with a 15% share.

“OGDCL is diligently pursuing a harmonized approach to exploration, drilling, and development activities with a focus on optimizing production on a fast-track basis,” it said.

Last month, OGDCL announced an impressive enhancement in production at the Siab-1 well, situated within the Baratai Block in the Kohat district of Khyber Pakhtunkhwa province.

“Siab-1, a collaborative effort under a joint venture where OGDCL operates with a substantial 97.5 percent share, in partnership with the Khyber Pakhtunkhwa Oil & Gas Company Limited (KPOGCL) holding the remaining 2.5% share, showcased the potential of Pakistan’s energy sector,” OGDCL said back then.

The enhanced production at Siab-1 officially started on August 28, 2023. Since then, the well has consistently delivered exceptional results, contributing to a cumulative production of 20.5 MMSCFD of gas and 390 BPD of oil.