Oil and Gas Development Company Limited was incorporated in Pakistan in 1997. The Company is the market leader in E&P sector of Pakistan holds the largest exploration acreage and portfolio. For Half year ending Dec 2022, OGDC contributed 46% and 29% and 37% towards Pakistan's total oil, natural gas production.
The Company was listed on Karachi Stock Exchange on 2004, and trades under the PSX:Ticker 'OGDC'. Moreover, Global Depository Shares (GDR) of OGDC are listed on London Stock Exchange.
Free float of OGDC is just 15%. The Government of Pakistan holds 85% of the company. The Market Cap of OGDC as of March 2023 was Rs. 374 billion (USD 1.34 billion).
Investments:
OGDC holds 20% stake in Mari Petroleum Company Limited, that trades on Pakistan Stock Exchange under the ticker 'MARI'. Mari petroleum outlook has changed since with revised Agreement dated 29 July 2015 in line with the Economic Coordination Committee (ECC) decision, whereby the wellhead gas pricing formula was replaced with a crude oil price linked formula, which provides the discounted wellhead gas price. Read here for more info on this.
OGDC has also invested in Reko Diq Mining Company (Private) Limited (RDML) through Pakistan Minerals (Private) Limited (PMPL), an entity incorporated in Pakistan in accordance with the agreements for collective representation of the Company, PPL and GHPL. RDML is engaged in the mineral exploration activities in Pakistan. The Company's equity interest in PMPL is 33.33% with an effective interest of 8.33% in RDML.