The Board of Directors of Oil & Gas Development Company Limited (OGDC), in its meeting held on Monday, February 23, 2026, announced the financial results for the half year ended December 31, 2025, and declared a second interim cash dividend of Rs 4.25 per share (42.50%) — the highest-ever second quarterly dividend in the Company’s history. This brings the cumulative interim dividend for the half year to Rs 7.75 per share, representing the highest-ever half-year payout by the Company.
OGDC posted net sales revenue of Rs 192.830 billion and profit after tax of Rs 73.019 billion, translating into earnings per share (EPS) of Rs 16.98. The half-year results reflected the impact of forced production curtailments by SNGPL and UPL due to system load constraints, along with a lower average crude oil basket price, partly offset by higher realized gas prices and exchange rate movement.
During the period, the Company contributed Rs 120 billion to the national exchequer through corporate tax, dividends, royalty and other government levies, while its oil and gas production generated estimated foreign exchange savings of US$ 1.4 billion through import substitution.
Average daily net saleable production during the half year stood at 31,848 barrels of crude oil, 626 MMcf of natural gas, and 636 tons of LPG, compared with 31,477 barrels, 672 MMcf and 629 tons, respectively, in the corresponding period last year. The production curtailments during the period adversely impacted daily net production by 3,384 barrels of oil, 152 million cubic feet (MMcf) of gas, and 51 tons of LPG.
Operationally, OGDC spud five wells during the period, and sustained exploration efforts led to four oil and gas discoveries, further strengthening the Company’s resource base. The Company also secured petroleum exploration rights over eight offshore blocks in the October 2025 bidding round.
On the development front, Jhal Magsi Project was successfully commissioned and is currently producing around 14 MMcfd of gas along with condensate, while Dakhni Compression Project has been completed ahead of schedule. Other key compression projects are progressing as planned.
The impact on sales revenue, amounting to Rs 36.468 billion primarily due to lower production volumes and reduced realized crude oil and LPG prices, was partially offset by higher realized gas prices and exchange rate movement. Collections improved considerably, with gas receivables collection reaching 156% and overall receivables collection standing at 125%, reversing the previous build-up trend.
Building on its sustainability journey, OGDC is reinforcing its Environmental, Social and Governance (ESG) strategy, advancing climate-related disclosures and integrating ESG considerations across its operations and value chain.
The Board appreciated the management’s continued focus on operational performance, financial discipline and shareholder returns, which enabled the declaration of the highest-ever second quarterly and half-year dividend while maintaining OGDC’s leadership position in Pakistan’s exploration and production sector.
