By SKM
February 23, 2026
ISLAMABAD: Oil & Gas Development Company Limited (OGDCL) on Monday posted a profit after tax of Rs73.02 billion for the half year ended December 31, 2025, and declared a record interim dividend of Rs7.75 per share, underscoring resilient earnings despite production constraints.
The company announced a second interim cash dividend of Rs4.25 per share, the highest-ever second quarterly payout in its history. Combined with the earlier distribution, the total interim dividend for the six-month period stands at Rs7.75 per share.
Net sales revenue during the period reached Rs192.83 billion, translating into earnings per share (EPS) of Rs16.98. The performance, however, remained under pressure due to forced production curtailments by SNGPL and UPL amid system load constraints, along with lower average crude oil basket prices. Higher realized gas prices and favorable exchange rate movements provided partial relief.
OGDCL contributed Rs120 billion to the national exchequer in the form of corporate taxes, royalties, dividends and other levies during the review period. The company also generated estimated foreign exchange savings of $1.4 billion through import substitution, reinforcing its strategic importance to the country’s energy sector.
Average daily net saleable production stood at 31,848 barrels of crude oil, 626 million cubic feet (MMcf) of natural gas and 636 tons of LPG. Production curtailments reduced daily output by 3,384 barrels of oil, 152 MMcf of gas and 51 tons of LPG.
On the exploration front, the company spudded five wells and made four new oil and gas discoveries, strengthening its hydrocarbon reserves. It also secured exploration rights for eight offshore blocks in the October 2025 bidding round.
Development activities remained on track, with the Jhal Magsi Project successfully commissioned and currently producing around 14 MMcfd of gas along with condensate. The Dakhni Compression Project was completed ahead of schedule, while other compression initiatives continue to progress steadily.
Although sales revenue took a hit of Rs36.47 billion due to lower production volumes and reduced crude oil and LPG prices, the company reported improved liquidity. Gas receivables collection reached 156 percent, while overall receivables collection stood at 125 percent, reversing the earlier accumulation trend.
The Board of Directors commended the management for maintaining operational efficiency and financial discipline, enabling the company to deliver record shareholder returns while sustaining its leadership position in Pakistan’s exploration and production sector.
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