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Business Strategy

Management objectives and strategies are tasked at improving corporate performance and creating material value for shareholders in the future. These objectives and strategies are in line with OGDCL’s strategic plan and may change/alter depending upon change(s) in the internal and external environment.

 

Management objectives and strategies are summarized as follows:

  • Pursue investment choices that are financially viable for the purpose of reserve building, production enhancement and growth in distributions to shareholders in the coming years;

 

  • Formulate value driven joint ventures with leading E&P companies both locally and internationally to introduce new partners with complementary skills and to carry out exploration, development and production operations cost effectively;

 

  • Ensure the existence of a mixed exploration portfolio constituting exploration concessions in the established, promising and unexplored areas alongside keeping a balance between enhancing exploratory endeavors and mitigating risk with acceptable drilling success leading to reserves accretion and sustainable long term business growth;

 

  • Maintain and accelerate the exploratory endeavors including fast track seismic data acquisition, data processing/interpretation and active drilling campaigns to tap additional reserves and optimize hydrocarbon production to address energy challenges in the Country;

 

  • Seek production growth from owned and operated joint venture fields through expediting efforts for completion of ongoing development projects, fast track development of newly discovered fields and utilizing latest production techniques and innovative technologies to maximize hydrocarbon recovery;

 

  • In carrying out intensified E&P activities to maintain market leadership status, ensure adherence to high safety standards coupled with respecting the environment and local communities that may be affected by the business operations. Being a socially responsible entity, carry on CSR activities through investment in following areas:
  • Education.
  • Health.
  • Water supply.
  • Infrastructure development and providing generous donations in the case of natural calamities;

 

  • Based on suppressed international oil prices impacting the business financials, maintain a rigorous approach to capital allocation and concentrate on efficiency and competitiveness in carrying out business activities;

 

  • Improve efficiency and output of the employees by continuing to provide training in the form of workshops, seminars and conferences alongside building and maintaining strong relationships with the stakeholders to ensure business growth and success;

 

  • In line with the business vision, focus on establishing foot prints abroad by undertaking suitable farm-in/ farm-out opportunities as well as acquisition of concessions in domestic and international markets. In this respect, cash in on such overseas opportunities which can be monetized quickly and deliver immediate production boost; and

 

  • To exploit unconventional sources of energy like shale gas and coal bed methane, carry on the study initiated in the business operated blocks to evaluate shale and tight gas potential and define development strategy for operated reservoirs.