OGDCL Commences Oil Production from Pasakhi-13

Summary by AI ^BETAClose X

Oil and Gas Development Company Limited has successfully commenced oil production from its Pasakhi-13 well, marking Pakistan's first successful horizontal oil well in a clastic reservoir, producing 460 barrels of oil per day. This achievement, utilizing advanced geo-steering technology and an electric submersible pump, resulted in nearly threefold higher production compared to offset wells, reinforcing OGDCL's commitment to innovation and indigenous hydrocarbon production. OGDCL holds a 100% working interest in the Pasakhi & Pasakhi North Development & Production Lease.

Disclaimer*

Oil and Gas Development Company Ltd

24 March 2026

CS04-08 (PSX/LSE/SECP)

March 24, 2026

The General Manager,

Pakistan Stock Exchange Limited,
Stock Exchange Building,

Stock Exchange Road,
Karachi-74000, Pakistan.

London Stock Exchange Plc.,

10 Paternoster Square,

London EC4M 7LS.

Tel: (44) 20 7334 8907

Subject: OGDCL Commences Oil Production from Pasakhi-13 - Pakistan's First Successful Horizontal Oil Well in Clastic Reservoirs

Dear Sir

We are pleased to inform that Oil and Gas Development Company Limited (OGDCL), has successfully commenced oil production from its development well Pasakhi-13, marking a historic milestone as Pakistan's first successful horizontal oil well in clastic reservoir (lower Goru - A sand).

Pasakhi-13 is located in District Hyderabad, Sindh province and producing 460 barrels of oil per day (BPD). The well was drilled to a measured depth of 2,966 meters, including a 546-meter horizontal section with application of geo-steering technology, enabling precise navigation within a narrow 3-meter drilling window to optimally target the sweet spot within reservoir.

Furthermore, the well was completed and tested using a short string Electric Submersible Pump (ESP), optimized for horizontal well configurations. Despite challenging reservoir characteristics, horizontal drilling enabled enhanced reservoir exposure, delivering nearly threefold higher production compared to offset wells under similar conditions.

Pasakhi-13 well is part of the Pasakhi & Pasakhi North Development & Production Lease (D&PL), where OGDCL holds a 100% working interest. The achievement reinforces OGDCL's commitment to technical excellence, innovation, and deployment of advanced technologies in line with global standards, while advancing indigenous hydrocarbon production and strengthening Pakistan's energy security.

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

Yours Sincerely,

(Wasim Ahmad)

Company Secretary

Copy:

Executive Director/HOD, Supervision Division, SECP, Islamabad.

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