Prior to OGDCL

Preceding OGDCL’s development, investigation exercises in the nation were completed by Pakistan Petroleum Ltd. (PPL) and Pakistan Oilfields Ltd. (POL). In 1952, PPL found a giant gas field at Sui in Baluchistan. This revelation produced tremendous enthusiasm for investigation and five noteworthy international oil organizations went into concession concurrences with the Government.

Amid the 1950s, these organizations did broad land and geophysical overviews and penetrated 47 exploratory wells. Therefore, a couple of little gas fields were found. Regardless of these gas disclosures, investigation movement in the wake of having achieved its crest in mid-1950s, declined in the late fifties. Privately owned businesses whose primary target was to acquire benefit were not inspired by building up the gas revelations particularly when framework and interest for gas was non-existent. With investigation action at its most reduced ebb a few outside investigation contracting organizations ended their operation and either diminished or surrendered land property in 1961.

Foundation of OGDC

To restore investigation in the vitality segment the Government of Pakistan marked a long haul credit Agreement on 04 March 1961 with the USSR. Pakistan received 27 million Rubles to fund hardware and administrations of Soviet specialists for investigation. In accordance with the Agreement, OGDC was made under an Ordinance dated twentieth September 1961. The Corporation was accused of obligation to attempt a well thoroughly considered and methodical exploratory project and to arrange and advance Pakistan’s oil and gas prospects.

As an instrument of strategy in the oil and gas part, the Corporation took after the Government directions in matters of investigation and advancement. The everyday administration was nonetheless, vested in a five-part Board of Directors delegated by the Government. In the beginning stages the money related assets were masterminded by the GOP as the OGDC did not have the ways and intends to raise the danger capital. The initial 10 to 15 years were committed to advancement of labor and working of base to embrace much bigger investigation programs.

Starting Successes

Various contributor offices, for example, the World Bank, Canadian International Development Agency (CIDA) and the Asian Development Bank gave the catalyst through help to real advancement ventures as advances and allows. OGDC’s purposeful endeavors were extremely effective as they brought about various real oil and gas revelations somewhere around 1968 and 1982. Toot oil field was found in 1968 which made ready for further exploratory work in the North. Amid the period 1970-75, the Company changed the technique for overhauling its gear base and embraced an exceptionally forceful work program. This brought about disclosure of various oil and gas fields in the eighties, along these lines giving the Company a measure of monetary autonomy. These incorporate the Thora, Sono, Lashari, Bobi, Tando Alam and Dhodak oil/condensate fields and Pirkoh, Uch, Loti, Nandpur and Panjpir gas fields which are business revelations that vouch for the expert capacities of the Corporation.

Transition to a self financing entity

Taking note of the Company’s prosperity, because of real oil and gas disclosures in the eighties, the Government in July 1989, off-stacked the Company from the Federal Budget and permitted it to deal with its exercises with self created reserves. The budgetary year 1989-90, was OGDC’s first year of self-financing. It was an awesome test for OGDC. The conspicuous starting focus amid the primary year of self-financing was to produce adequate assets to keep up the force of investigation and advancement at a pace imagined in the Public Sector Development Program (PSDP) and also to meet its obligation adjusting commitments. OGDC not just created enough inner assets to meet its obligation commitments additionally put enough assets in investigation and advancement to expand the nation’s stores and generation.

Transformation into Public Limited Company

Proceeding 23 October 1997, OGDCL was a statutory Corporation, and was known as OGDC (Oil and Gas Development Corporation). It was fused as a Public Limited Company w.e.f. 23 October 1997 and is currently known as OGDCL (Oil and Gas Development Company Ltd).

Initial Public Offering

Administration of Pakistan disinvested a portion of its shareholding in the Company in 2003. At first 2.5% of the value with an extra green-shoe alternative upto 2.5% of value was offered to the overall population. The said Offer got a staggering reaction from the overall population and was recorded as a point of interest exchange in the historical backdrop of Pakistan’s capital markets.

GDR

In December 2006, the Government of Pakistan stripped a further 10% of its holding in the organization. The Company is currently recorded on the London Stock Exchange since December 06, 2006.

Production:

OGDCL has 18 Oil and Gas processing plants. It has 47 fields of Oil & Gas that are geographically disseminated nationwide. These include Compression plants, Condensate Stabilization, Dehydration, Gas Sweetening, H2S Removal, LPG, Refining, and Sulphur Recovery.

Products

Sulphur, LPG, Gas, & Crude Oil

OGDCL Production

• Crude Oil (Barrels / Day) 41,890
• Gas (MMcf / Day) 1,157
• LPG (M.Ton / Day) 379
• Sulphur (M.Ton / Day)              47

Production Share from Non-Operated Joint Ventures 

• Crude Oil (Barrels / Day) 10,280
• Gas (MMcf /Day) 271
• LPG (M.Ton/Day) 222

Major Buyers:

1. Sui Northern Gas Company (SNGPL) buys gas from OGDCL and supply to northern area (KPK and Punjab)
2. Sui Southern Gas Company (SSGCL) OGDCL provides gas to them and they supply to southern area (Sindh and Baluchistan);
3. Attock Refinery, Engro Fertilizer Company, Fuji Fertilizer Company, National Refinery, Pakistan State Oil (PSO), UCH Power Company and other IPPS.

Major Oil & Gas Fields

• Bobi
• Chak Nurang
• Chanda
• Dakhni
• Daru
• Fimkasar
• Kal
• Kunnar
• Lashari
• Loti

• Mela
• Missa KiswalMissa

• Nandpur Panjpir
• Pirkoh

• Rajian,
• Sadkal

• Tando Alam
• Thora
• Uch
• Qadirpur

Pakistan is a rich natural resources country but in spite of this our budget’s main portion spends on Oil Import bill why? This question is leaving for my loving readers.