Oil and Gas Development Company Limited commonly known as OGDCL is a 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.[5] 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.[6]
It has repeatedly ranked among the Forbes Global 2000.
On May 4, 2009, 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).
OGDCL Vision & Mission
OGDCL Vision
To be a leading multinational Exploration and Production Company.
OGDCL Mission
To become the leading provider of oil and gas to the country by increasing exploration and production both domestically and internationally, utilizing all options including strategic alliances.
To continuously realign ourselves to meet the expectations of our stakeholders through best management practices, the use of latest technology, and innovation for sustainable growth, while being socially responsible.
OGDCL is exposed to the following operational and non-operational risks that can unfavourably affect its operations and financial performance.
Crude oil price
Environmental risks
Exploration and drilling risks
Exchange rate
Law and order
Legislation
Reserve Depletion
Under performance of oil and gas field
The company managed to drill more than one third of the total wells drilled in the country during 2010. 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.
