Islamabad September 23 2022: Oil and Gas Development Company Limited (OGDCL) announced Net Profit after Taxation of Rs 133.784 billion for the fiscal year 2022 as against Rs 91.534 billion in the last year.
This translating into an Earnings per Share of Rs 31.1. The Board of Directors declared final cash dividend of Rs 2.50 per share.
“During the fiscal year 2021-22, the Company acquired 2,003 Line km of 2D and 601 sq. km of 3D seismic data, which represents 80% and 31% of total 2D and 3D seismic data acquisition respectively in the Country. OGDCL drilled a total of 13 wells and its pursuit to exploration-led growth strategy led the Company to 7 new hydrocarbon discoveries.” says Syed Khalid Siraj Subhani, MD/CEO OGDCL.
OGDCL registered net sales of Rs 335.464 billion compared to Rs 239.104 billion in the last year. Net Profit before Taxation was Rs 232.521 billion compared to Rs 128.986 billion in the last year.
Operating Profit Margin and Net Profit Margin were 54% and 40%, respectively.
Average net saleable crude oil, gas and LPG production were 35,292 barrels per day, 825 MMcf per day and 807 Tons per day during the year under review.
About the Company
OGDCL, the largest petroleum Exploration and Production Company in Pakistan, is a listed Company on Pakistan Stock Exchange and its Global Depository Shares were issued on London Stock Exchange in December 2006. It holds the largest portfolio of recoverable hydrocarbon reserves of Pakistan, at 34% of gas and 33% of oil, respectively, as at June 30, 2022. During the year under review, it contributed around 47%, 29% and 37% towards Country’s total oil, natural gas and LPG production respectively. With a portfolio of 48 exploration licences, OGDCL has the largest exploration acreage in Pakistan, covering 41% of the total awarded acreage as of June 30, 2022. Currently, all production volumes are being realized from onshore areas of Pakistan, however, the Company also possesses working interest in Pakistan’s offshore exploration block; Indus-G