ISLAMABAD: The Oil and Gas Development Company Limited (OGDC) announced on Monday its financial results for the half year ending December 31, 2025, reporting a record second interim cash dividend of Rs 4.25 per share. This dividend, the highest for a second quarter in the company's history, contributes to a cumulative interim dividend of Rs 7.75 per share for the half year, marking the largest half-year payout OGDC has ever declared.

According to Oil and Gas Development Company Limited, OGDC recorded net sales revenue of Rs 192.830 billion and a profit after tax of Rs 73.019 billion, resulting in earnings per share of Rs 16.98. The results were influenced by production curtailments due to system constraints from SNGPL and UPL, a lower average crude oil basket price, and were partly offset by increased gas prices and favorable exchange rate movements.

During this period, OGDC contributed Rs 120 billion to the national exchequer through various levies and taxes, while its oil and gas production generated an estimated US$ 1.4 billion in foreign exchange savings. Despite production curtailments impacting daily net outputs, the company maintained robust exploration and development activities, spudding five wells and achieving four new oil and gas discoveries.

The company also acquired exploration rights for eight offshore blocks and commissioned the Jhal Magsi Project, which is producing around 14 MMcfd of gas. The Dakhni Compression Project was completed ahead of schedule, and other projects are advancing as planned.

The company experienced a Rs 36.468 billion impact on sales revenue due to lower production volumes and reduced realized crude oil and LPG prices, though this was partly mitigated by higher realized gas prices and exchange rate gains. Improved collections, with gas receivables reaching 156% and overall receivables at 125%, reversed previous trends.

OGDC is enhancing its Environmental, Social, and Governance (ESG) strategy, focusing on climate-related disclosures and integrating ESG considerations throughout its operations. The Board praised the management's dedication to operational excellence and financial discipline, which facilitated the highest-ever dividend payouts while preserving the company's leadership in Pakistan's exploration and production sector.

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