ISLAMABAD: Oil & Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production (E&P) firm, has successfully revived hydrocarbon production at Rajian-11, a heavy oil well located in the Chakwal district of Punjab.
In a notice to the Pakistan Stock Exchange (PSX) on Wednesday, OGDCL announced that the well, which had been suspended since 2020 due to formation challenges, is now back in production after the installation of an Electrical Submersible Pump (ESP).
“This initiative aligns with OGDCL’s broader strategy to enhance production using advanced artificial lift techniques,” the company stated.
Rajian-11, extending to a depth of 3,774 meters, has been successfully completed with an ESP in the Tobra, Jutana, and Sakesar formations, restoring production to 1,000 barrels per day (BPD) of oil. The Rajian Oil Field, fully owned and operated by OGDCL under the Gujar Khan E.L. license, has been a key asset since its discovery in August 1994.
“This achievement underscores OGDCL’s commitment to maximizing hydrocarbon recovery and operational efficiency, reinforcing its position as a leader in Pakistan’s energy sector,” the company added.
Meanwhile, OGDCL’s latest financial results show a profit-after-tax (PAT) of Rs41.44 billion for the quarter ending December 31, 2024. The earnings reflect a 44% decline compared to Rs74.26 billion in the same period last year, primarily due to lower sales and higher taxes.
As Pakistan’s largest E&P company, OGDCL operates across the entire upstream value chain, including exploration, drilling, production, reservoir management, and engineering support. The company holds the most extensive exploration acreage in Pakistan, covering over 40% of the country’s total awarded blocks.
