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Islamabad: Oil and Gas Development Company Ltd (OGDC) has successfully increased production at its Rajian-05 well through the installation of electrical submersible pumps (ESP), according to a press release. This move has significantly enhanced the output to 3,100 barrels per day (bpd) of oil and 1 million cubic feet per day (mmcfd) of gas, a marked improvement from the previous figures of 1,100 bpd of oil and 0.5 mmcfd of gas during the third quarter of fiscal year 2025.
OGDC, the fully-owned operator of the Rajian heavy oil field, has implemented various workover strategies and artificial lift systems across other wells in the field to accelerate production. The latest development at Rajian-05 reflects the company’s ongoing efforts to enhance efficiency and output in its operations.
The increase in production is expected to have a positive financial impact, with an anticipated annualized earnings per share (EPS) increase of approximately 1.3 Pakistani Rupees per share for OGDC. The company has been focusing on optimizing its resources and leveraging technology to improve its operational outcomes.
The Rajian-05 well’s success is part of OGDC’s broader strategy to boost production and ensure a steady supply of oil and gas. This development underscores the company’s commitment to utilizing advanced technology to maximize the potential of its assets.