Tag: OGDCL

OGDCL, Power Division Clash Over Uch Gas Field Utilisation in Draft IGCEP 2025–35

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OGDCL-Project

ISLAMABAD: A dispute has emerged between the Oil and Gas Development Company Limited (OGDCL) and the Power Division over what OGDCL terms the “minimal consideration” given to the capacity utilisation factors of the Uch-I and Uch-II gas fields in the draft Indicative Generation Capacity Expansion Plan (IGCEP) 2025–35, sources close to the NEPRA Chairman revealed. In a letter to the NEPRA Chairman, OGDCL Managing Director and CEO Ahmed Hayat Lak criticised the Independent System and Market Operator of Pakistan (ISMO) for proposing sharply declining utilisation factors for the Uch plants…

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Circular debt plan: OGDCL receives Rs7.73bn second interest payment

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Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest E&P firm, has received the second interest payment of Rs7.73 billion from Power Holding (Private) Limited (PHL) under the government’s circular debt settlement plan. The E&P disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. “We are pleased to inform that, as part of the circular debt settlement plan, OGDCL has received the second installment, being one of twelve equal monthly installments of Rs7.725 billion, as interest payment from PHL, pursuant to the Government of Pakistan…

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OGDCL Receives First Rs7.7bn Interest Payment Under Circular Debt Settlement Plan

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ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production firm, has received the first interest installment of Rs7.73 billion from Power Holding (Private) Limited (PHL) under the government’s circular debt settlement framework. The development was announced in a notice to the Pakistan Stock Exchange (PSX) on Monday, confirming that the payment is part of a broader plan approved by the Government of Pakistan to resolve the mounting circular debt in the energy sector. “As part of the circular debt settlement plan, OGDCL has received the…

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OGDCL Announces Significant Oil and Gas Discovery at Faakir-1 Well in Khairpur, Sindh

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OGDCL

ISLAMABAD, June 12, 2025: Oil & Gas Development Company Limited (OGDCL) on Thursday announced a significant oil and gas discovery from its exploratory efforts at the Faakir-1 well, located within the Bitrisim Exploration License area in Khairpur district of Sindh. The well is operated by OGDCL with a 95% working interest, in a joint venture with Government Holdings (Private) Limited (GHPL), which holds the remaining 5% stake.Spudded on December 31, 2024, as an exploratory well, the Faakir-1 well was drilled to a total depth of 4,185 meters in the Sembar…

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DGPC provisionally awards 10 onshore exploration blocks to MariEnergies

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Mari energies

The Directorate General of Petroleum Concessions (DGPC) has provisionally awarded 10 new onshore exploration blocks to MariEnergies, one of Pakistan’s largest exploration and production (E&P) companies. “These blocks have been awarded after competitive bidding on the basis of work units committed by various E&P companies in the Pakistan E&P Onshore Bid Round 2025 (30th April 2025) conducted by the DGPC,” MARI said in its notice to the Pakistan Stock Exchange (PSX) on Wednesday. According to the notice, MARI will operate seven blocks as an operator. At the same time, the…

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