ISLAMABAD: Crude oil production of the Oil and Gas Development Company (OGDCL) has reached 42,529 barrels per day (bpd) in first quarter of the current fiscal year as compared to the same period of the corresponding year 2016-17, showing 6 percent growth.
“Similarly, production of Liquefied Petroleum Gas (LPG) witnessed 73 percent surge during the period under review.” The production has increased from 342 tons per day (tpd) to 590 tpd,” official sources Friday told APP.
The company drilled two new development wells namely Mela-6 and Qadirpur HRL-14, while it made two oil and gas discoveries in districts Sukkur and Hyderabad in Sindh.
Answering a question, they said the company earned Rs17.009 billion profit as compared to Rs14.631 billion in same period of the last year.
According to financial results announced by the OGDCL Board of Directors, the company’s net sales revenue increased to Rs43.962 billion as compared to Rs39.565 billion in the corresponding period of last year.
“While, OGDCL’s profit after tax stood at Rs17.009 billion ascompared to Rs14.631 billion in the same quarter,” the sources said.
They said the company had announced first interim cash dividend of Rs1.75 per share (17.5%), which would be payable to the shareholders whose names would appear in the Register of Members on Tuesday, December 12.
