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    (Wikipedia) - Oil and Gas Development Company
    This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (December 2012)
    Oil and Gas Development Corporation Type Traded as Industry Founded Headquarters Area served Key people Products Revenue Net income Total assets Total equity Employees Website
    Public
    KSE: OGDC LSE: OGDC
    Oil and gas
    April 4, 1961 (1961-04-04)
    Islamabad, Pakistan
    Pakistan
    Zahid Muzzafar (Chairman)
    Fuels, Natural gas
    US$ 2.12 billion (2013)
    US$ 1.50 billion (2013)
    US$ 3.93 billion (2013)
    US$ 3.07 Billion (2013)
    11,000
    OGDCL.com
    OGDCL Headquarters, Islamabad

    Oil and Gas Development Company Limited commonly known as OGDCL is an Pakistani multinational oil and gas company. It has primary listing on Karachi Stock Exchange, and secondary listings on London, Lahore and Islamabad stock exchanges. 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 has repeatedly ranked among the Forbes Global 2000.

    Contents

    Listing

    Ahmad Nawaz On May 4, 2006, 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 is 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. 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.

    Employees

    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.

    OIST

    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.

    Highlights 2010

    Financial

    Operational

    Market capitalization

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

    Non-operated joint ventures Reserves

    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.

    Tags:Allah, BP, Baloch, Beg, British, ENI, Eni, Forbes, Indus, Islamabad, Karachi, LPG, Lahore, London, Maru, Oil and Gas Development Company, Pakistan, Pakistani, Science, Shah, US, Website, Wikipedia


    Website:http://www.ogdcl.com/



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