Oil & Gas Development Company Limited, commonly known as OGDC, is a Pakistani state-owned

oil and gas A fossil fuel is a flammable carbon compound- or hydrocarbon-containing material formed naturally in the Earth's crust from the buried remains of prehistoric organisms (animals, plants or microplanktons), a process that occurs within geologi ...

company headquartered in Islamabad. It is listed on the

Pakistan Stock Exchange The Pakistan Stock Exchange (PSX), founded as Karachi Stock Exchange (KSE), is a stock exchange based in Karachi, Pakistan. PSX was classified by MSCI as a frontier market on 8 September 2021. Pakistan Stock Exchange was founded in 1947 as ...

and the

London Stock Exchange The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

. It is the largest company in Pakistan in terms of

market capitalisation Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by ...

, and has repeatedly ranked among the

Forbes Global 2000 The ''Forbes'' Global 2000 is an annual ranking of the top 2000 public companies in the world, published by: sales, profit, assets and market value. The list has been published annually since 2003. By country Forbes Global 2000 as of 2023: ...

. OGDCL operates 50 oil and gas fields across Pakistan.

History

Oil & Gas Development Corporation (OGDC) was established through an ordinance dated 4 April 1961 by the

Government of Pakistan The Government of Pakistan () (abbreviated as GoP), constitutionally known as the Federal Government, commonly known as the Centre, is the national authority of the Islamic Republic of Pakistan, a federal republic located in South Asia, con ...

with the help of

Soviet Union The Union of Soviet Socialist Republics. (USSR), commonly known as the Soviet Union, was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 until Dissolution of the Soviet ...

under a $30 million

oil exploration Hydrocarbon exploration (or oil and gas exploration) is the search by petroleum geologists and geophysicists for hydrocarbon deposits, particularly petroleum and natural gas, in the Earth's crust using petroleum geology. Exploration methods V ...

loan signed in February 1961. OGDC received equipment and technical services under a $30 million loan. In October 1997, it was restructured into a

public limited company A public limited company (legally abbreviated to PLC or plc) is a type of public company under United Kingdom company law, some Commonwealth of Nations, Commonwealth jurisdictions, and Republic of Ireland, Ireland. It is a limited liability co ...

thus becoming Oil and Gas Development Company Limited. In 2004, OGDCL was listed on the

Karachi Stock Exchange The Pakistan Stock Exchange (PSX), founded as Karachi Stock Exchange (KSE), is a stock exchange based in Karachi, Pakistan. PSX was classified by MSCI as a Frontier markets, frontier market on 8 September 2021. Pakistan Stock Exchange was fou ...

, following an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

at a strike price of PKR 32 per share. On 4 May 2009, the government of Pakistan appointed a

Citigroup Citigroup Inc. or Citi (Style (visual arts), stylized as citi) is an American multinational investment banking, investment bank and financial services company based in New York City. The company was formed in 1998 by the merger of Citicorp, t ...

-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 In organic chemistry, a hydrocarbon is an organic compound consisting entirely of hydrogen and carbon. Hydrocarbons are examples of group 14 hydrides. Hydrocarbons are generally colourless and hydrophobic; their odor is usually faint, and may b ...

. 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 of oil; of gas, and 358 metric tons of

liquefied petroleum gas Liquefied petroleum gas, also referred to as liquid petroleum gas (LPG or LP gas), is a fuel gas which contains a flammable mixture of hydrocarbon gases, specifically propane, Butane, ''n''-butane and isobutane. It can also contain some ...

. 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 Attock ( Punjabi, ), formerly known as Campbellpur (Punjabi, ), is a city in Punjab, Pakistan, not far from the country's capital Islamabad. It is the headquarters of the Attock District and is 36th largest city in the Punjab and 61st largest c ...

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 Sanghar (; English: Sānghar) is a city in Sanghar District, Sindh, Pakistan. Sanghar is the headquarters of Sanghar District and Sanghar Taluka (a subdivision of the district). The driving distance of Sangher from Karachi is 268 kilometers ...

Sindh Sindh ( ; ; , ; abbr. SD, historically romanized as Sind (caliphal province), Sind or Scinde) is a Administrative units of Pakistan, province of Pakistan. Located in the Geography of Pakistan, southeastern region of the country, Sindh is t ...

Education

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 Degree may refer to: As a unit of measurement * Degree (angle), a unit of angle measurement ** Degree of geographical latitude ** Degree of geographical longitude * Degree symbol (°), a notation used in science, engineering, and mathematics ...

. 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 Earth science or geoscience includes all fields of natural science related to the planet Earth. This is a branch of science dealing with the physical, chemical, and biological complex constitutions and synergistic linkages of Earth's four spheres ...

, QAU Islamabad.

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%

References

External links

Oil and Gas Development Company Limited

OGDCL Pakistan starts trading at London Stock Exchange
{{DEFAULTSORT:Oil and Gas Development Company 2004 initial public offerings Oil and gas companies of Pakistan Natural gas pipelines in Pakistan Government-owned companies of Pakistan 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 Companies in the KSE 100 Index