Fannie Mae, Freddie Mac shares tumble after conservatorship comments
ISLAMABAD - Oil and Gas Development Company Limited (OGDCL) has increased production at its Rajian-05 well following the successful installation of an Electrical Submersible Pump (ESP), according to a company press release issued Monday.
The well, located in Pakistan’s Chakwal District, is now producing 3,100 barrels of oil per day (BPD) and 1.0 million standard cubic feet per day (MMSCFD) of gas. This represents a significant increase from previous production levels of 820 BPD of oil and 0.5 MMSCFD of gas.
Rajian Field, which was discovered in August 1994, is fully owned and operated by OGDCL under the Gujar Khan Exploration License. The company had previously installed ESPs at two other wells in the same field.
The latest installation at Rajian-05 is part of OGDCL’s strategy to enhance production from existing assets through targeted workover operations and technology deployment.
The Rajian Field development aligns with the company’s focus on optimizing domestic energy resources to support Pakistan’s energy security objectives.
OGDCL made the announcement in compliance with regulatory requirements for the Pakistan Stock Exchange and London Stock Exchange (LON:LSEG), where the company’s shares are traded.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.