- Oil and Gas Development Company Limited
Infobox_Company
company_name = Oil and Gas Development Company
company_
company_type = Public (KSE: [http://www.kse.com.pk/phps/symlookup_quote.php?keyword=OGDC OGDC] ) (LSE: [http://www.londonstockexchange.com/en-gb/pricesnews/prices/system/detailedprices.htm?ti=OGDC OGDC] )
company_slogan (historic) =
foundation = March 4, 1961
location = flagicon|PakistanIslamabad ,Pakistan | key_people = Arshad Nasar, Chairman
industry = Oil and gas
products = Oil,Natural gas
revenue = profitPKR 100.3 Billion (2007) [ [http://www.ogdcl.com/UploadFolder/financial/Complete%20Annual%20Report.pdf OGDCL 04-09-07 - 1.pdf ] ]
net_income = profitPKR 61.1 Billion (2007) [ [http://www.ogdcl.com/UploadFolder/financial/Complete%20Annual%20Report.pdf OGDCL 04-09-07 - 1.pdf ] ]
assets = PKR 129.3 Billion (2007) [ [http://www.ogdcl.com/UploadFolder/financial/Complete%20Annual%20Report.pdf OGDCL 04-09-07 - 1.pdf ] ]
homepage = [http://www.ogdcl.com/ www.ogdcl.com/]
num_employees = 11,000Oil and Gas Development Company Limited (OGDCL) is a state corporation of
Pakistan . It was established in 1961 to prospect, refine and sell oil and gas inPakistan . [http://www.atcpakistan.com/pakhis.htm]By 1966, OGDCL had emerged as the dominant prospector in Pakistan with several significant discoveries in the Indus Basin.
In 1997, OGDCL was converted into a public limited company.
In 2005, the company reported a turnover of Rs.96,755 million.
On May 4th, 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.During the fiscal year ended June 30, 2006 the Company made five oil and gas discoveries 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 convert|39659|oilbbl|m3 of oil; convert|937|Mcuft|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. [http://finance.google.com/finance?q=KAR:OGDC]
In early 2007, the company had a market capitalization of PKR 510.9 million in
Karachi Stock Exchange . The company has 11,000 employees on its payroll.External links
* [http://www.ogdcl.com/ Oil and Gas Development Company Limited]
* [http://www.forbes.com/finance/feeds/afx/2006/05/04/afx2722880.html Forbes report on OGDC privatization]
* [http://www.dhartipakistan.com/2006/12/06/ogdcl-trading-at-londonstockexchange/ OGDCL Pakistan starts trading at London Stock Exchange]
References
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