Islamabad: The Board of Directors of Oil and Gas Development
Company Limited (OGDC), in its meeting held on February 23, 2026, approved the
financial results for the half-year period ended December 31, 2025 and declared
a second interim cash dividend of Rs 4.25 per share (42.50%), which is the
highest second-quarter dividend in the company’s history. Thus, the total interim
dividend for the half-year period reached Rs 7.75 per share, which is the
highest half-yearly dividend in the company’s history.
OGDC’s net sales stood at Rs 192.830 billion while net
profit after tax stood at Rs 73.019 billion, with earnings per share (EPS) at
Rs 16.98. The half-year results were impacted by the forced production cut by
SNGPL and UPL due to system load restrictions and lower average crude oil
prices, which were partially offset by better gas prices and exchange rate
appreciation. During the period, the company paid Rs 120 billion to the
national exchequer in terms of corporate tax, dividends, royalties and other
government revenues, while it is estimated that it saved about US$ 1.4 billion
in foreign exchange due to import substitution through oil and gas production.
During the half-year period, OGDC’s crude oil production was
31,848 barrels per day, natural gas production was 626 million cubic feet per
day and LPG production was 636 tonnes per day. Operationally, the company
started drilling five wells during this period, while continuous exploration
resulted in four new oil and gas discoveries, further increasing the company’s
hydrocarbon resource reserves. The company also acquired rights to eight
offshore blocks for oil and gas exploration in the October 2025 bid.
On the development front, the Jhal Magsi project has been
successfully completed and made operational, where about 14 million cubic feet
per day of gas along with condensate is currently being produced, while the
Dakhni Compression project has been completed ahead of schedule. Other major
compression projects are also progressing as planned. Lower production and
lower realized prices of crude oil and LPG had a negative impact of Rs 36.468
billion on sales revenue, which was partially offset by better gas prices and
exchange rate appreciation. There was a significant improvement in collections,
with gas collection rate reaching 156 percent and total collection rate
reaching 125 percent, reversing the trend of increasing pre-existing
liabilities.
OGDC is continuing its sustainability journey by further
strengthening its environmental, social and ESG strategy and integrating ESG
factors into its operations and value chain. The Board commended the management
for its continued focus on operational efficiency, financial discipline and
delivering improved returns to shareholders, which enabled the company to
maintain its leadership position in Pakistan’s exploration and production
sector and report its highest-ever second quarter and half-year profits.
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