 | |
 Headquarters of the Oil & Gas Development Company in Islamabad | |
| Native name | آئل اینڈ گیس ڈویلپمنٹ کمپنی |
|---|---|
| Company type | Public |
| Traded as | PSX: OGDC LSE: OGDC KSE 100 component KSE 30 component |
| Industry | Oil and gas |
| Founded | 4 April 1961 (1961-04-04) |
| Headquarters | Islamabad, Pakistan |
| Area served | Pakistan |
| Key people | Ahmed Hayat Lak (CEO) |
| Products | Fuels, Natural gas |
| Revenue |  Rs. 413.594 billion (US$1.4 billion) (2023) |
| Net income | Rs. 224.617 billion (US$780 million) (2023) |
| Total assets | Rs. 1424.065 billion (US$4.9 billion) (2023) |
| Total equity | Rs. 1082.897 billion (US$3.8 billion) (2023) |
| Owner | Government of Pakistan (85.02%) |
| Number of employees | 11,207 (2023) |
| Subsidiaries | Pakistan Minerals Limited (33.33%) Pakistan International Oil Limited (25%) Mari Petroleum (20%) |
| Website | ogdcl |
| Footnotes / references Financials as of 30 June 2023 | |
Oil & Gas Development Company Limited, commonly known as OGDC, is a Pakistani state-owned oil and gas company headquartered in Islamabad. It is listed on the Pakistan Stock Exchange and the London Stock Exchange.
It is the largest company in Pakistan in terms of market capitalisation, and has repeatedly ranked among the Forbes Global 2000. OGDCL operates 50 oil and gas fields across Pakistan.
History
Oil & Gas Development Corporation (OGDC) was established through an ordinance dated 20 September 1961 by the Government of Pakistan with the help of Soviet Union under a $30 million oil exploration loan signed in February 1961. OGDC received equipment and technical services under a $30 million loan.
On 23 October 1997 it was restructured into a public limited company thus becoming Oil and Gas Development Company Limited OGDCL. In 2004, OGDCL was listed on the Karachi Stock Exchange, following an initial public offering at a strike price of PKR 32 per share.
On 4 May 2009, the government of Pakistan appointed a Citigroup-led consortium to advise the state-run Privatisation Commission on the sale of 10 to 15 percent (or 430 to 645 million shares) of the company. OGDCL is the second Pakistani company to have been listed at the London Stock Exchange.
Discoveries and exploration
OGDCL utilizes seismic as the primary imaging technology for exploration of hydrocarbons. It currently operates five seismic acquisition crews, capable of acquiring 2D/3D data in diversified terrains. It also operates seismic data processing center to handle advanced image processing.
During the fiscal year ended 30 June 2006 the company made several oil and gas discoveries, including at Nim-1, Dars Deep-1, Tando Allah Yar North-1, Kunnar Deep-1 and Bahu-1. OGDCL's daily production, including share from joint ventures, averaged 39,659 barrels (6,305.3 m) of oil; 937 million cubic feet (26,500,000 m) of gas, and 358 metric tons of liquefied petroleum gas. The Company holds exploration acreage comprising 40 exploration licenses covering an area of 75,905 square kilometres, including 16 exploration licenses covering an area of 28,066 square kilometres granted to OGDCL during fiscal 2006. During 2009–2010, the company acquired four new exploration blocks (Channi Pull, Jandran west, Lakhi Rud and Mari east), covering area of around 4,795 Square kilometres. Three exploration licenses namely Khiranwala, Thatta and Thatta east were surrendered and operatorship of offshore Indus-S was transferred to BP Alpha.
After drilling down a total depth of 5,545 meters, OGDCL announced discovery of reserves in district Attock of Pothohar region estimated at 882 bpd during year 2022. In order to recover LPG from raw gas, a plant has been set up in district Karak, KPK capable of producing 18,500 BBLs of oil and 350 MT of LPG. During year 2024, OGDCL started extraction of oil at 350 bpd from Baloch-2 exploration well located in district Sanghar of Sindh.
Educational institutes
The OGDCL Institute of Science & Technology was established in 1979 in Islamabad. In 1986, the OIST (formerly OGTI) relocated to the I-9 sector of Islamabad. The OIST has played an important role in field training.
In March 2013, the OGTI under the name OGDCL Institute of Science and Technology was allowed to award degrees. In order to promote research activities and to bridge the gap between academia and industry, an industrial chair sponsored by OGDCL was established at the department of Earth Sciences, QAU Islamabad.
Additionally, OGDCL contributes into the education sector by providing scholarships, skill development, and support for educational institutes. It signed MoU with Punjab Skills Development Fund (PSDF) to provide multiple trainings to underprivileged youth to enable them to earn sustainable livelihoods. The National Talent Hunt Program launched by OGDCL has resulted in a total of 895 students graduating from IBA Sukkur.
Non-operated joint ventures
- Adhi field; OGDCL has 50% stake
- Badar field; OGDCL has 50% working interest
- Badin-II, Badin-II revised and Badin-III fields; OGDCL has 49%, 24% and 15% stake respectively
- Badhra, Bhit and Kadanwari fields; OGDCL has 20%, 20% and 50% working interest respectively
- Bangali, Dhurnal and Ratana fields; OGDCL working interest is 50%, 20% and 25% respectively
- Miano field; OGDCL has 52% stake
- Pindori field; OGDCL holds 50% working interest
- Sara and Suri fields; OGDCL has 40% stake in the fields
- TAL Block; OGDCL working interest is 27.76%
See also
References
- "Oil and Gas Development Company Limited Annual Report 2023". Retrieved 22 May 2024.
- "Exploration Overview | OGDCL". Retrieved 27 December 2024.
- "OGDCL Six Year Performance" (PDF).
- Tirmizi, Farooq (23 December 2012). "The growth of the "billion dollar club" in Pakistan". The Express Tribune newspaper. Retrieved 11 December 2023.
- "Oil & Gas Development on the Forbes Global 2000 List". Forbes magazine. Retrieved 11 December 2023.
- "Production | OGDCL". www.ogdcl.com. Retrieved 27 December 2024.
- "Pakistan: Ayub 's Acid Test". TIME. 14 April 1961.
- "Pakistan State Oil Company Ltd".
- Asia, Commonwealth Consultative Committee on South and South-East (13 October 1958). "Report" – via Google Books.
- "Corporate Information | (OGDCL)". www.ogdcl.com. Retrieved 27 December 2024.
- Hussain, Dilawar (26 November 2003). "OGDCL IPO attractsRs28bn". DAWN.COM.
- "Exploration Overview | OGDCL". www.ogdcl.com. Retrieved 28 December 2024.
- "Google Finance - Stock Market Prices, Real-time Quotes & Business News". Google Finance. Retrieved 20 February 2024.
- Desk, BR Web (27 October 2022). "OGDCL discovers oil reserves in Punjab". Brecorder. Retrieved 14 January 2025.
{{cite web}}:|last=has generic name (help) - "NASHPA Gas Processing at Karak KPK | OGDCL". ogdcl.com. Retrieved 12 January 2025.
- "Pakistan: OGDCL starts production at Baloch-2 exploration well in the Sinjhoro block". www.energy-pedia.com. Retrieved 14 January 2025.
- "OGDCL Chair Established at QAU – QAU". Retrieved 12 January 2025.
- "Education & Skill Development | OGDCL". ogdcl.com. Retrieved 27 December 2024.
External links
- Oil and Gas Development Company Limited
- Forbes report on OGDC privatization
- OGDCL Pakistan starts trading at London Stock Exchange
 KSE 100 companies of Pakistan | |
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| KMI-30 companies of Pakistan | |
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| As of December 2024 |
| KSE-30 companies of Pakistan → KSE-100 | |
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| As of September 2024 |
| Ministry of Energy (Pakistan) | ||
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| Headquarters: Pakistan Secretariat | ||
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- Oil and gas companies of Pakistan
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- Pakistan–Soviet Union relations
- Companies based in Islamabad
- Energy companies established in 1961
- Non-renewable resource companies established in 1961
- Pakistani companies established in 1961
- Companies listed on the Pakistan Stock Exchange
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