Islamabad February 28 2025: Oil & Gas Development Company Limited, the largest oil and gas company of Pakistan, announced an record high and above expected cash payout of PKR 4.05 per share for the quarter ended December 31, 2024, according to company filing to the exchange.
Company announced profit of PKR 41.4 billion for the quarter ended December compared to PKR 74.2 billion reported for the same quarter last year.
Company nearly double its exploration expense to PKR 4.0 billion during the quarter.
OGDCL, the largest petroleum Exploration and Production (E&P) Company in Pakistan, was listed on Pakistan Stock Exchange (PSX) in November 2003 and its Global Depository Shares (GDS) were issued on London Stock Exchange in December 2006. The company contributed around 47%, 28% and 37% of the Country’s total oil, natural gas and LPG production respectively.
OGDCL holds the largest exploration acreage which as of 30 June 2024 at 99,268 sq. km representing 39% of the Country’s total area under exploration. The Company’s exploration portfolio currently comprises 54 100%-owned as well as operated joint venture exploration licenses. Additionally, the Company possesses working interest in 14 exploration blocks operated by other E&P companies.
