OGDC Announces Financial Results for the Year Ended June 30, 2026, Declares Highest-Ever Quarterly and Annual Dividend

WNAM REPORT: The Board of Directors of Oil & Gas Development Company Limited (OGDC), in its meeting held on Friday, September 4, 2026, announced the financial results for the financial year ended June 30, 2026.
OGDC recorded net sales revenue of Rs 449.191 billion and its highest-ever profit after tax of Rs 242.374 billion, representing an increase of 43% over the preceding year. Earnings per share (EPS) increased to Rs 56.35 from Rs 39.50 last year. The Board declared a final cash dividend of Rs 6.00 per share (60%), the highest-ever quarterly dividend in the Company’s history. This is in addition to interim dividends of Rs 11.00 per share already paid, taking the total payout for the year to Rs 17.00 per share (170%)—the highest-ever annual dividend declared by the Company.
During the year, OGDC contributed Rs 187 billion to the national exchequer through corporate tax, dividends, royalties and other government levies. The Company’s oil and gas production also generated foreign exchange savings of US$ 3.31 billion through import substitution. Improved recoveries resulted in an overall collection rate of 107%, with Rs 577 billion collected during the year.
The Company’s share price appreciated by 52% during the fiscal year, outperforming the 44% increase in the KSE-100 Index. OGDC’s market capitalization reached approximately Rs 1.44 trillion as of June 30, 2026, reinforcing its position as the largest listed company in Pakistan.
OGDC delivered significant exploration and drilling achievements during the year. The Company made nine oil and gas discoveries, adding 120 MMBOE of 2P reserves and achieving a reserves replacement ratio of 236%, the highest in its history. It spudded 23 wells and drilled 58,333 metres—the highest levels recorded in the last five years—while securing interests in 15 additional exploration blocks.
Average daily net saleable production stood at 32,861 barrels of crude oil, 667 MMcf of gas and 670 tons of LPG, representing year-on-year increases of 6.3%, 2.3% and 4.4%, respectively, despite continued production curtailments. Amid the regional energy security situation, OGDC successfully ramped up production to help mitigate the Country’s energy demand-supply gap, with gross crude oil production surpassing 40,000 barrels per day in April 2026, for the first time in 27 quarters.
A key operational milestone was bringing Baragzai X-1 into production in April 2026. The well is currently producing approximately 5,968 barrels of oil, 17 MMcf of gas and 60 tons of LPG per day. The cumulative potential of its five producing formations is estimated at 15,000 barrels of oil and 45 MMcf of gas per day. The Company also commissioned the Jhal Magsi development project and also completed Dakhni front-end compression project during the year.
OGDC continued to advance its long-term growth and diversification agenda through enhanced oil recovery at Kunnar-Pasakhi, revitalization of Rajian heavy-oil field and assessment of mature assets. The Company also progressed its shale and tight-gas initiatives and successfully tested geothermal water at Wahid Bakhsh-1, where Pakistan’s first major discovery of high-grade lithium in geothermal brine was confirmed. Its participation in Reko Diq copper-gold project and Abu Dhabi Offshore Block-5 further supports the Company’s strategy of developing a broader energy and resources portfolio.
The Company strengthened its environmental, social and governance framework by introducing its first ESG Strategy and publishing its first Task Force on Climate-related Financial Disclosures-aligned climate disclosures. OGDC also became the first Pakistani company to join the United Nations Environment Programme’s Oil and Gas Methane Partnership 2.0 and achieved zero fatalities during the year. Its contribution to community development was recognized by the Pakistan Centre for Philanthropy, which ranked OGDC first in the Corporate Philanthropy Awards 2025.
The Board of Directors appreciated Management’s efforts in delivering record financial results, strengthening operational performance and advancing the Company’s exploration and diversification agenda. The Board expressed confidence that OGDC will continue to reinforce Pakistan’s energy security, replenish and expand its resource base, and deliver sustainable long-term value to its shareholders and other stakeholders.