Oil and Gas Development Company (OGDCL) is the national Oil and Gas Company of Pakistan and the flagship of the country's E&P sector. The company is the local market leader in terms of reserves, production and acreage and is listed on all three stock exchanges in Pakistan and also on London Stock Exchange.
The Government of Pakistan owns 74.82% of the shares of the Company. If one look at the activity by OGDCL since its inception it will be abundantly clear that OGDCL has been consistent in expanding its foot print in the E&P industry in Pakistan. During the 49 years since its inception, OGDCL has come a long way and overcome many challenges - from acquiring and sustaining its position as a self-financing entity to making a transition in corporate culture to that of a Public Limited Company, listed on all three Stock Exchanges of Pakistan and also at the London Stock Exchange.
Exploration Acreage The company holds 23% of the total exploration acreage in the country. Out of 282,115 sq km, OGDCL's share of exploration acreage comes to 63,581 sq km, the largest single company exploration acreage held by any company as of December 2010.
Reserves Base Out of the country's total oil reserves, ie 307 MMBBL, OGDCL holds 47% ie 143 MMBBL. Out of the total country gas reserves 27,590 BCF, OGDCL holds 9,976 BCF ie 36% as of June 2010.
Production The company produces 56% of total country's shares of oil production ie, 38,490 BOPD out of 68,298 BOPD.OGDCL also produces 962 MMCFD of gas out of the total country production of 4,208 MMCFD, which comprises 23% of total country production as of December 2010.
Licences and Leases The company has 35 active exploration licences and 45 active Development and Production plus Mining Leases. Wells drilled Since Inception and Discoveries As of 31st January, 2011 OGDCL has spudded a total of 614 wells (268 exploratory wells and 346 appraisal/developments wells) and made 91 oil and gas discoveries.
Performance Recognised
KSE AWARDS Every year, Karachi Stock Exchange (KSE) honours the performance of top companies on the basis of comprehensive criteria, which includes dividend payout, return on equity, compliance with listing regulations and good corporate governance.
OGDCL has been ranked amongst the "Top Twenty Five Companies" on the Karachi Stock Exchange (KSE) for the sixth consecutive year (2004-2009). The selection for the award reflects OGDCL's dedication and commitment to the best practices of corporate governance in addition to meeting the prerequisites laid down by the KSE Board of listed companies.
BEST CORPORATE REPORT AWARD OGDCL received the Corporate Report Award for the year 2009 in the Energy sector on 23rd October, 2010. The award is designed to recognise transparency in doing business in the context of globalisation and changing societal expectations and to extol the dedication, commitment and team work of the management of each winner company. This award also helps to bridge the credibility gap between stakeholders and corporate management. The award was announced by a Joint Committee of Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost and Management Accountants of Pakistan (ICMAP). OGDCL has been ranked amongst the list of winners of the Best Corporate Report Award for the fourth consecutive year.
ENVIRONEMNT EXCELLENCE AWARD 2009 OGDCL has won the 6th National Forum for Environment and Health (NFEH) Environment Excellence Award 2009 on account of its excellent environment initiatives ands successful implementation of environment management systems at major sites. The National Forum for Environment and Health (NFEH) organised the 6th Annual Environment Excellence Awards 2009 in Karachi. The event was held in collaboration with United Nations Environment Programme.
CORPORATE EXCELLENCE CERTIFICATE OGDCL also received 26th Corporate Excellence Certificate on account of good corporate governance and best management practices. Management Association of Pakistan (MAP) organised the ceremony. MAP is committed to excellence in management through human capital development, creating awareness and recognising best management practices to enhance competitiveness.
PAKISTAN CORPORATE PHILANTHROPY AWARD OGDCL received the PCP Corporate Philanthropy Award for the years 2008 and 2009 in the Energy sector on 06th December, 2010. Awards were presented to top 5 companies by volume of donations as well as the 5 top performing companies giving the highest percentage of profit before tax and donations for the years 2008 and 2009.