OGDCL Revitalizes Kunnar-11 Well in Sindh, Restoring Oil Production

HYDERABAD – Oil and Gas Development Company Limited (OGDCL) has successfully revitalized the Kunnar-11 well in Sindh, restoring oil production. The company announced the achievement in a notice to the Pakistan Stock Exchange (PSX) on Monday, revealing that the well is now producing 960 barrels of oil per day. Located in the Hyderabad district and part of the OGDCL Kunnar Oil Field, Kunnar-11 was brought back into operation using production optimization techniques and an Electrical Submersible Pump (ESP). OGDCL holds a 100% working interest in the Kunnar Mining Lease Area. This initiative underscores OGDCL’s commitment to optimizing production and showcases the effectiveness of modern recovery techniques in rejuvenating mature wells. In May 2024, Kunnar-11 had ceased production entirely. The annual earnings impact is estimated at Re0.6 per share. As of this report, OGDC shares were trading at Rs132.51, a 56% increase over the past year. Last week, OGDCL also successfully revitalized the Nashpa-4 well in Khyber Pakhtunkhwa. OGDCL is Pakistan’s largest exploration and production company, with operations spanning exploration, drilling, production, reservoir management, and engineering support, covering over 40% of the country’s exploration acreage.