Oil and Gas Development Company
 |
|
| Public company | |
| Traded as | : OGDC : |
| Industry | Oil and gas |
| Founded | 4 April 1961 |
| Headquarters | Islamabad, Pakistan |
|
Area served
|
Pakistan |
|
Key people
|
Zahid Muzzafar (Chairman) |
| Products | Fuels, Natural gas |
| Revenue |  US$4.5 billion (2015) |
| US$2.2 billion (2015) |
|
| Total assets |
US$3.93 billion (2013) |
| Total equity |
US$3.07 Billion (2013) |
|
Number of employees
|
11,000 |
| Website | OGDCL |
Oil and Gas Development Company Limited commonly known as OGDCL is a Pakistani multinational oil and gas company. It has a primary listing on the , and secondary listing on the . Established in 1961 by the Government of Pakistan, it was turned into a public listed company on 23 October 1997. Today it is involved in exploring, drilling, refining and selling oil and gas in Pakistan. It is the market leader in terms of reserves, production and acreage. It is based on Jinnah Avenue, Blue Area in Islamabad, with the Government of Pakistan holding 74% stake in the company. Rest are held by private investors. In 2013, it has revenue of Rs. 223.365 billion and profit before tax soaring at Rs. 90.777 billion.
It is the largest company in Pakistan in terms of market capitalisation, and has repeatedly ranked among the Forbes Global 2000.
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 per cent (or 430 to 645 million shares) of the company. OGDCL is the second Pakistani company to have been listed at the . The company was also listed in Pakistan at all the three exchanges of the country namely Karachi Stock Exchange (KSE), Lahore Stock Exchange (LSE) and Islamabad Stock Exchange (ISE).
OGDCL is exposed to the following operational and non-operational risks that can unfavourably affect its operations and financial performance.
The company managed to drill more than one third of the total wells drilled in the country during 2010. In addition to that, OGDCL was also joint venture partner in sixteen wells drilled by other operators.
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 m3) of oil; 937 million cubic feet (26,500,000 m3) 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.[2] 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.
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