In a major development in Pakistan’s energy sector, the Oil and Gas Development Company Limited (OGDCL) has successfully revitalised Nashpa-4 well in Khyber Pakhtunkhwa.
The oil and gas giant shared this development with the Pakistan Stock Exchange (PSX) through a notice on Monday, in compliance with Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations.
The well was re-evaluated for the potential of the upper zone of the Lockhart formation, resulting in an increase of 330 barrels per day (BBL/day) of oil and 7.7 million standard cubic feet per day (MMSCF/day) of gas at a wellhead flowing pressure (WHFP) of 1570 PSI, read the notice.
Additionally, 21 metric tons per day (MT/day) of LPG is being recovered. The gas is now being injected into the SNGPL network.
Nashpa-4 well is situated within the Nashpa Development and Production Lease (D&PL) in the Karak district of the Khyber Pakhtunkhwa province.
“Nashpa D&PL operates under a joint venture, wherein OGDCL as operator, possessing a 56.45% stake, alongside Pakistan Petroleum Limited (PPL) with a 28.55% share, and Government Holding Private Limited (GHPL) holding 15% share,” the company further said.
