Oil and Gas Development Company

Oil and Gas Development Corporation
Traded as KSE: OGDC
Industry Oil and gas
Founded April 4, 1961 (1961-04-04)
Headquarters Islamabad, Pakistan
Area served
Key people
Zahid Muzzafar
Products Fuels, Natural gas
Revenue Increase US$4.5 billion (2015)[2]
Increase US$2.2 billion (2015)[3]
Total assets Increase US$3.93 billion (2013)[3]
Total equity Increase US$3.07 Billion (2013)[3]
Number of employees
11,000 [4]
Website OGDCL.com

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 Pakistan Stock Exchange, and secondary listing on the London Stock Exchange. 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.[5] 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.[6]

It is the largest company in Pakistan in terms of market capitalisation,[7] and has repeatedly ranked among the Forbes Global 2000.[8]


On May 4, 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 London Stock Exchange. 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).

Business challenges and risks

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.

Discoveries and exploration

During the fiscal year ended June 30, 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 kilometers, including 16 exploration licenses covering an area of 28,066 square kilometers 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 kilometers. Three exploration licenses namely Khiranwala, Thatta and Thatta east were surrendered and operatorship of offshore Indus-S was transferred to BP Alpha.


The company has 11,000 employees on its payroll. OGDCL has some of the finest professionals but due to the failure of top management the full potential of OGDCL was never utilized to the benefit of Pakistan. Had these professionals been utilized wisely and on merit; today Pakistan would be self-sufficient in energy.


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.


Financial 2014[9]


Market capitalization

In early 2007, the company had a market capitalization of PKR 51.9 Billion in Karachi Stock Exchange.

Non-operated joint ventures


The remaining recoverable reserves of OGDCL stood more than 142 million barrels (22,600,000 m3) of oil and 9,997 billion cubic feet 9,997 billion cubic feet (283.1 km3) of gas as of June 30, 2010.


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