By SKM
June 19, 2026
ISLAMABAD: Oil & Gas Development Company Limited (OGDCL) has further consolidated its position in one of Pakistan’s largest gas-producing fields by acquiring the 7.99 percent working interest held by Kuwait Foreign Petroleum Exploration Company (KUFPEC) in the Qadirpur Development and Production Lease (D&PL).
The acquisition increases OGDCL’s total working interest in the Qadirpur concession area from 75 percent to 82.99 percent, strengthening the state-owned company’s control over a strategic national energy asset.
In a press note issued on Thursday, OGDCL said the transaction was completed through a Farm-in Agreement with KUFPEC Pakistan B.V. (KPBV). The transfer was formalized following approval from the Government of Pakistan and execution of a Deed of Assignment (DOA) under Rules 8 and 9 of the Pakistan Onshore Petroleum (Exploration and Production) Rules, 1986.
The latest acquisition reinforces OGDCL’s status as the principal operator of the Qadirpur gas field, a key contributor to the country’s natural gas supplies, while advancing efforts to increase local ownership in Pakistan’s upstream petroleum sector.
OGDCL had first informed the Pakistan Stock Exchange of its intention to acquire the stake on January 23, 2025.
The OGDCL is currently providing $1.4 billion import substitution as its average daily net saleable production stood at 32,022 barrels of crude oil, 648 MMcfd of gas, and 653 tons of LPG, compared to 31,710 barrels, 676 MMcfd, and 654 tons in the same period last year. Output was reduced by curtailments amounting to 3,482 barrels of oil, 141 MMcfd of gas, and 48 tons of LPG per day, although the impact eased toward the latter part of the period. Notably, gross crude oil production crossed 40,000 barrels per day after a prolonged gap due to targeted optimization measures.
The development comes amid a broader restructuring of KUFPEC’s portfolio in Pakistan. In December 2024, KUFPEC Pakistan sold key assets worth nearly $60 million to Pakistan Exploration (Private) Limited (PEL) as part of its strategy to optimize investments and redirect capital to other international markets.
KUFPEC, a subsidiary of Kuwait Petroleum Corporation, was established in 1981 and is engaged in the exploration, development and production of crude oil and natural gas outside Kuwait. The company maintains operations in 10 countries across Asia, Africa, Australia, North America and Europe.
Earlier, in November 2023, KUFPEC signed Memorandums of Understanding (MoUs) with OGDCL, Mari Petroleum Company Limited and Prime Pakistan Limited to enhance the value of its assets and explore new opportunities in Pakistan’s energy sector. Ends
