The Board of Directors of Oil & Gas Development Company Limited (OGDC) announced financial results for the nine months ended March 31, 2026, declaring a third interim cash dividend of Rs 3.25 per share— the highest in the Company’s history. This brings the cumulative interim dividend for the nine months to Rs 11.00 per share.
OGDC reported net sales revenue of Rs 300.127 billion and a profit after tax of Rs 115.263 billion, resulting in earnings per share (EPS) of Rs 26.80. Notably, the Company faced unprecedented production curtailment but maintained solid financial and operational performance, driven by higher realized gas prices and favorable exchange rate movements.
During this period, OGDC contributed Rs 160 billion to the national exchequer through various taxes and levies, and its production generated an estimated US$ 2.3 billion in foreign exchange savings through import substitution.
Average daily production included 32,022 barrels of crude oil, 648 MMcfd of natural gas, and 653 tons of LPG. Although curtailments reduced output by approximately 3,482 barrels of crude oil and 141 MMcfd of gas, gross crude oil production surpassed 40,000 barrels per day due to successful optimization initiatives.
The Company drilled 10 wells, resulting in eight new oil and gas discoveries and increasing its reserve replacement ratio to 153%. OGDC also successfully injected the Baragzai X-1 well into the production system and significantly revived output from the Jand-1 well.
On the development side, the Jhal Magsi Project produced around 14 MMcfd of gas, and the Dakhni Compression Project has been completed, enhancing overall production. Other projects, including Uch and KPD-TAY, are also advancing as scheduled.
Sales were supported by favorable market conditions, with gas receivables collection rising to 126% and total receivables at 111%, reversing previous trends.
The Board praised management for its operational focus and financial discipline, facilitating the highest dividend declaration while upholding OGDC’s leadership position in Pakistan’s exploration and production sector.
