Tag: OGDC
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PIOL secures strategic offshore block in Abu Dhabi
Karachi, June 12, 2025 – In a major milestone for Pakistan’s energy sector, Pakistan International Oil Limited (PIOL) has officially signed a production concession agreement (PCA) for the development of a strategic offshore block in Abu Dhabi, marking a new chapter in the country’s regional energy collaboration.
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OGDC’s profit jumps 42% YoY in 9MFY23
Oil and Gas Development Company Limited (OGDC) on April 27, 2023 announced its financial results for 9MFY23, reporting a profit after tax of PKR 159.64 billion (EPS: PKR 37.12) compared to PKR 112.04 billion (EPS: PKR 26.05) in 9MFY22, reflecting an increase of 42% YoY.
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Gas price hike to further push up inflation
KARACHI: The recent approval by Economic Coordination Committee (ECC) to increase the prices of gas will further push up the inflation, analysts said. The country is already facing the alarming rise in inflation following sure in prices of petroleum products and electricity tariff. The analysts at AKD Securities said that ECC approved hike in gas…
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OGDCL discovers huge gas reserves in Khyber PakhtoonKhwa
KARACHI: Oil and Gas Development Company Limited (OGDCL) on Tuesday announced huge amount of gas discovery and condensate from exploratory well at Kohat, Khyber PakhtoonKhwa. In a notification to Pakistan Stock Exchange (PSX) and London Stock Exchange Plc., the company said that the joint venture of Kohat E.L. comprising OGDCL as operator (50 percent), Mari…
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OGDCL discovers huge deposits of gas in Sindh
KARACHI: Oil and Gad Development Company Limited (OGDCL) has discovered huge amount of gas at exploratory well Mangrio 01, District Tando Muhammad Khan, Sindh Province. In a statement on Monday, the company said that the structure of Mangrio Well 01 was drilled and tested using OGDCL’s in house expertise. The well was drilled down to…
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Preliminary report on Karachi deep sea drilling submitted
KARACHI – A multinational joint venture comprising ENI, Exploration and Production Pakistan BV (EEPP), and Pakistan Petroleum Limited (PPL) has initiated the preliminary phase of offshore drilling for oil and gas in Karachi’s ultra-deep waters.
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