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INTERNSHIP PROGRAM under Corporate Social Responsibility (CSR)

03/09/2017

APPLY ONLINE
APPLICATIONS OTHER THAN ONLINE WILL NOT BE ACCEPTED

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PUBLIC MESSAGE

02/28/2017

Verification of documents in respect of selected candidates under             Graduate Training Program and Joining of Assistant Internal Auditor, which was scheduled on 01-03-2017 will now be conducted/carried out on 02-03-2017 due to local holiday on 01-03-2017. All candidates are advised to report accordingly

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The Recruitment /Enrolment process against the below mentioned positions has been annulled

01/19/2017

DATE OF ADVERTISEMENT                                        POSITIONS

15/03/2015                                       Assistant Accountant (Trainee) /  Assistant H.R.O (Trainee)

21/12/2014                                       Assistant  Officer (SCM/Finance/ HR / Marketing / CSR) in EG-II

31/08/2014                                       Assistant Engineer  - Trainee (Production / Process / Mechanical / Electrical / Instrument / Corrosion
 

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OGDC New Crude Production Record

10/14/2016

OGDCL achieves highest-ever crude oil production Record Details

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NOTICE OF ANNUAL GENERAL MEETING

09/08/2016

Notice is hereby given that the Nineteenth Annual General Meeting of Oil and Gas Development Company Limited will be held at Marriott Hotel Islamabad on October 26, 2016, at 10:00 a.m Details

Request Form

Proxy Form

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NOTICE OF EXTRAORDINARY GENERAL MEETING

09/05/2016

NOTICE OF EXTRAORDINARY GENERAL MEETING Details

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Highlights of the Full Year (FY2016) include:

08/24/2016

  • OGDCL’s net sales registered Rs 162.867 billion compared to Rs 210.625 billion in last year
  • Net profit before taxation registered Rs 80.507 billion compared Rs 127.025 billion in last year
  • Net Profit after Taxation registered Rs 59.971 billion as against Rs 87.249 billion in the preceding year translating into Earnings per Share of Rs 13.94
  • The Board of Directors declared final cash dividend for the year at Rs 2.00 per share.
  • Operating profit margin and net profit margin were 39% and 37%, respectively.
  • Average net realized price of crude oil sold was US$ 39.07/bbl as against US$ 63.29/bbl during last year
  • Average net realized price for natural gas sold was Rs 253.77/Mcf as against Rs 272.61/Mcf during last year
  • A record 5,336 Line Kms of 2D and 3,459 Sq. Kms of 3D seismic acquisition completed
  • Twenty Six (26) wells were spudded, comprising of twelve (12) exploratory/appraisal and fourteen (14) development wells during the year ended 30 June 2016
  • Company’s exploratory efforts yielded six (6) new oil and gas discoveries namely; Thal East-1, Thal West-1, Bitrism West-1A, Aradin-1, Nashpa X-5, Chak Naurang South-1
  • As at June 30, 2016, Net crude oil production of 40,609 barrels per day, net gas production of 1,056 MMcf per day, net LPG production 342 Metric tons per day and net Sulphur production of 39 Metric tons per day was witnessed during the period under review

 

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NOTICE FOR SHAREHOLDERS OF OGDCL

04/29/2016

In accordance with the notification of the Securities and Exchange Commission of Pakistan (SECP), SRO 831(I) 2012 dated July 05, 2012, dividend warrants should bear CNIC number of the registered member or the authorized person. Accordingly members who have not yet submitted copy of their valid CNIC/ NTN (in case of corporate entities) are requested to submit the same to the company with members folio no. mentioned thereon. It may kindly be noted that in case of non-receipt of the copy of valid CNIC, the company in the light of SECP Notification No. S.R.O 275 (I)/2016 dated March 31, 2016 would be constrained to consider withholding dividend. 

List of Physical and CDS Shareholders who have not provided copies of their valid CNICs.. 31-03-2016

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In-Eligible Candidates for Written Test

11/06/2015

The List of In-Eligible Candidates for written test scheduled on 08-11-2015 through NTS can be viewed here.

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Appointment of Auditors

10/07/2015

Notice U/S 253 regarding appointment of Auditors Detail

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Notice of 18th Annual General Meeting (OGDCL)

09/17/2015

OIL & GAS DEVELOPMENT COMPANY LIMITED

Notice of Annual General Meeting

 

Notice is hereby given that the 18th Annual General Meeting being Twenty Eighth meeting of the members of Oil and Gas Development Company Limited will Insha-Allah be held at Marriot Hotel Islamabad on October 15, 2015 at 9:00 a.m. to transact the following business:

ORDINARY BUSINESS

 

  1. To confirm the minutes of the 17th Annual General Meeting held on October 24, 2014.

     

  2. To receive, consider and adopt the audited accounts of the Company for the year ended June 30, 2015 together with the Directors’ and Auditors’ Reports thereon.

     

  3. To approve the final cash dividend @ 15% i.e. Rupees 1.5 per share for the year ended June 30, 2015 as recommended by the Board of Directors. This is in addition to three interim cash dividends totaling to 62.5% i.e. Rs.6.25/- per share already paid during the year.

     

  4. To appoint Auditors for the year 2015-16 and fix their remuneration. The present auditors M/s KPMG Taseer Hadi & Co., Chartered Accountants and M/s. A.F Ferguson & Co., Chartered Accountants will stand retired on the conclusion of this meeting.

     

  5. To transact any other business with the permission of the Chair.

     

                                                                                                 By order of the Board

     

    Islamabad                                                                                      (Ahmed Hayat Lak)

    Date: September, 11 2015                                                                   Company Secretary

     

    NOTES:

1-        Participation in the Annual General Meeting

A member entitled to attend and vote at this meeting is entitled to appoint another person as his / her proxy to attend and vote. Proxies in order to be effective must be received at the Registered Office of the Company duly stamped and signed not less than 48 hours before the meeting.

2-       CDC Account holders will further have to follow the under mentioned guidelines as laid down in Circular 1 dated January 26, 2000 issued by the Securities and Exchange Commission of Pakistan:

 

a.         For attending the meeting

In case of individuals, the account holder or sub-account holder and / or the person whose securities are in group account and their registration details are uploaded as per regulations, shall authenticate his / her identity by showing his / her original National Identity Card (NIC) original passport at the time to attending the meeting.

In the case of corporate entities, the Board of Directors’ resolution / power of attorney with specimen signature of the nominee shall be produced (unless it has been provided earlier) at the time of the meeting.

b.        For appointing proxies

  1. In case of individuals, the account holder or sub-account holder and / or the person whose securities are in group account and their registration details are uploaded as per regulations, shall submit the proxy form as per the above requirement.

  2. The proxy form shall be witnessed by two persons whose names, addresses and CNIC number shall be mentioned on the form.

  3. Attested copies for CNIC or the passport of the beneficial owners and of the proxy shall be furnished with the proxy form.

  4. The proxy shall produce his / her original CNIC or original passport at the time of the meeting.

  5. In the case of a corporate entity, the Board of Directors’ resolution / power of attorney with specimen signature of the person nominated to represent and vote on behalf of the corporate entity shall be submitted (unless it has been provided earlier) along with proxy form to the Company.

3- Closure of Share Transfer Books

The share transfer books of the company will remain closed and no transfer of shares will be accepted for registration from October 08, 2015 to October 15, 2015 (both days inclusive). Transfers received in order at the Share Registrars’ office M/s Central Depository Company of Pakistan Limited, Share Registrar Department, 99-B, Block ‘B’, CDC House, S.M.C.H.S Main Shara-e-Faisal, Karachi by the close of business on October 07, 2015 will be treated in time for the purpose of payment of final cash dividend, if approved by the Shareholders.

 

4- Change in Address

Members are requested to promptly notify any change in their address.

 

5. New Tax Implications on dividends:

Increased Tax Rates on Filers/ Non-Filers 

 

Through the Finance Act, 2015, enhanced rate of withholding tax on dividend amount has been prescribed in the Income Tax Ordinance, 2001, (Ordinance). New tax rates are as under:

 

a) For Filers of Income Tax return 12.5%

b) For Non-Filers of Income Tax return 17.5%

 

A ‘filer’ is a taxpayer, whose name appears in the Active Taxpayers List (ATL) issued by FBR, from time to time, whereas ‘non-filer’ is a person other than a ‘filer’. FBR has uploaded an ATL on its web-site, which can be accessed at http:// fbr.gov.pk. 

 

The Company will check each shareholder’s status on the latest ATL available at the first day of Book Closure and, if the shareholder’s name does not appear on the ATL, the increased rate of withholding tax at 17.5% would be applied. In case of ‘filer’, withholding tax rate of 12.5% will be applicable.

 

The corporate shareholders having CDC accounts are required to have their NTN updated with their respective participants, whereas corporate physical shareholders should send a copy of their NTN certificate to our Share Registrars, mentioning their Folio No. and the name of the Company.

 

Taxation for Joint Shareholders

 

The FBR has clarified that where the shares are held in joint accounts/ names, each account/ joint holder will be treated individually as either a filer or a non-filer and tax will be deducted according to his/her shareholding. The shareholders, who are having joint shareholding status, are requested to kindly intimate their joint shareholding proportions to the Share Registrar of the Company M/s Central Depository Company of Pakistan Limited latest by October 07, 2015 in the following format:

 

Folio/ CDC A/c No.

Name of Shareholders (principle/ joint holders)

No. of Shares or percentage (Proportion)

CNIC No. 

Signature

 

 

 

 

 

 

If the shareholding proportion is not advised or determined, each joint shareholder will be assumed to hold equal proportion of shares and deduction of withholding tax will be made accordingly.

 

Requirement of Valid Tax Exemption Certificate for Claiming Exemption from Withholding Tax

 

As per FBR Circulars C.No.1(29)WHT/2006 dated 30 June 2010 and C.No. 1(43)DG(WHT)/2008-VoI.II-66417-R dated 12 May 2015, the valid exemption certificate is mandatory to claim exemption of withholding tax U/S 150 of the Income Tax Ordinance 2001 (tax on dividend amount) where the statutory exemption under Clause 47B of Part-IV of Second Schedule is available. The shareholders who fall in the category mentioned in above clause and want to avail exemption U/S 150 of the Ordinance, must provide valid Tax Exemption Certificate to our Share Registrars before book closure otherwise tax will be deducted on dividend as per applicable rates.

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Highlights of the Full Year (FY2015) include:

08/26/2015


-> OGDCL’s net sales registered Rs 210.625 billion compared to Rs 257.014 billion in the last year
-> Net profit before taxation registered Rs 127,025 billion compared to Rs 172.350 billion in the last year
-> Net Profit after Taxation registered Rs 87.249  billion as against Rs 123.915  billion in the preceding year translating into Earnings per Share of Rs 20.29

-> The Board of Directors declared final cash dividend for the year at Rs 1.50 per share.
-> Operating profit margin and net profit margin were 51% and 41%, respectively.
-> Average net realized price of crude oil sold was US$ 63.29/bbl as against US$ 87.71/bbl during last year
-> Average net realized price for natural gas sold was Rs 272.61/Mcf as against Rs 282.95/Mcf during last year
-> 5,430 Line Kms of 2D and 1,918 Sq. Kms of 3D seismic acquisition completed
-> Twenty five (25) wells were spudded, comprising of fourteen (14) exploratory/appraisal and eleven (11) development  wells during the year ended 30 June 2014
-> Company’s exploratory efforts yielded four (4) new oil and gas discoveries namely; Soghri-1 & Jand-1, both in district Attock, Punjab province and Jarwar-1 & Palli Deep-1 both in district Tando Allah Yar, Sindh province.
-> Net crude oil production of 40,818 barrels per day, net gas production of 1,143 MMcf per day, net LPG production 260 M.Tons per day and net Sulphur production of 52 M.Tons per day was witnessed during the period under review

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DISCOVERY OF OIL AT CHAK NAURANG SOUTH-1

08/06/2015

By the grace of Almighty Allah, Oil and Gas Development Company Limited has made oil discovery in Lower Sakessar over Chak Naurang South-1 exploration well located in District Chakwal, Punjab.


The structure of well was delineated, drilled down to the depth of 3220 M targeting the Eocene reservoir of the sub thrust sheet to test potential of “ lower Sakessar” formation. Significant reserves of hydrocarbons have been found at Chak Naurang South-1.


The well initially produced 180 barrels per day of crude oil with jet pump. This discovery will add hydrocarbon reserves of the company and joint venture partners.


The above is being provided to you in compliance with the requirement of Clause No. (XX) of the Code of Corporate Governance.

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List of Selected Trainees

06/23/2015

List of selected Trainees on the basis of NTS test as per quota distribution by Government of Pakistan
Joining Date:- 01-07-2015

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Highlights

04/23/2015

Highlights of the Nine Months ended 31st March 2015 include:

->OGDCL’s net sales registered Rs 162.693 billion compared to Rs 190.362 billion in the corresponding period last year 

->Net profit before taxation registered to Rs 103.105 billion compared to Rs 130.188 billion in the corresponding period last year

->Net Profit after Taxation came to Rs 68.006  billion as against Rs 90.938 billion in the preceding period translating into Earnings per Share of Rs 15.81

->The Board of Directors declared third interim cash dividend for the year at Rs 1.75 per share.

->Operating profit margin and net profit margin were 54% and 42%, respectively.

->Average net realized price of crude oil sold was US$ 66.59/bbl as against US$ 87.45/bbl during corresponding period last year

->Average net realized price for natural gas sold was Rs 273.09/Mcf as against Rs 283.34/Mcf during corresponding period last year

->3,858 Line Kms of 2D and 1,125 Sq. Kms of 3D seismic acquisition completed

->Fifteen (15) new wells including seven (7) exploratory/appraisal wells and eight (8) development wells were spudded during the nine months ended 31st March 2015 

->Company’s exploratory efforts yielded four (4) new oil and gas discoveries namely Soghri-1 & Jand-1 in district Attock, Punjab province and Jarwar-1 & Palli Deep-1 in district        Tando Allah Yar, Sindh province

->Net crude oil production of 41,094 barrels per day, net gas production of 1,144 MMcf per day, net LPG production 258 M.Tons per day and net Sulphur production of 75 M.Tons per day was witnessed during the period under review


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Dispatch of Second Interim Dividend-D-54

04/21/2015

We are pleased to inform our shareholders that dividend warrants in respect of OGDCL 2nd Interim Cash Dividend (D-54) for the year 2014-15 period ended December 31, 2014 at the rate of Rs. 2.00 per share (20% of the face value of the share) recommended by the Board of Directors in its meeting held on February 04, 2015 have been dispatched to all the entitled shareholders i.e. shareholders whose names were appearing in the Register of Members of the Company as on March 16, 2015. Details


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DISPATCH OF 1ST INTERIM DIVIDEND (D-53)

01/16/2015

We are pleased to inform our shareholders that dividend warrants in respect of OGDCL 1st Interim Cash Dividend (D-53) for the year 2014-15 period ended September 30, 2014 at the rate of Rs. 2.50 per share (25% of the face value of the share) recommended by the Board of Directors in its meeting held on October 29, 2014 have been dispatched to all the entitled shareholders i.e. shareholders whose names were appearing in the Register of Members of the Company as on December 15, 2014 Details

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