ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) has further consolidated its position in one of Pakistan’s largest producing gas fields after completing the acquisition of an additional 7.99 percent working interest in the Qadirpur Development and Production Lease (D&PL).
According to industry sources, the acquisition was carried out through a Farm-in Agreement with M/s KUFPEC Pakistan B.V. (KPBV), increasing OGDCL’s working interest in the Qadirpur D&PL and Concession Area (Block 2667-1) from 75 percent to 82.99 percent.
The latest transaction significantly enhances OGDCL’s control over the strategically important Qadirpur gas field, reinforcing its position as the major operator of one of Pakistan’s key natural gas-producing assets.
Industry observers termed the move a major step toward strengthening OGDCL’s upstream portfolio and expanding its share in domestic hydrocarbon production, at a time when Pakistan is seeking to reduce reliance on imported energy and improve long-term energy security.
The development also comes as OGDCL continues to pursue expansion opportunities across the exploration and production sector, leveraging its operational experience and large-scale asset management capabilities.
Sources said the increase in OGDCL’s stake is expected to improve revenue generation prospects and further strengthen its influence over future development and production decisions at the Qadirpur field.
Adding to the positive momentum, OGDCL shares surged to a record high of Rs337.20 on the Pakistan Stock Exchange, reflecting strong investor confidence in the company’s operational performance, growth outlook, and earnings potential.
Market participants believe the acquisition will further solidify OGDCL’s long-term position in Pakistan’s energy sector, particularly in managing key indigenous gas assets critical for national supply.
Qadirpur Gas Field, located in Ghotki district of Sindh, is among Pakistan’s largest and most important natural gas-producing fields. Discovered in 1990 and brought into production in 1995, it has remained a cornerstone of the country’s indigenous gas supply.
The field holds estimated recoverable reserves of around 4.2 trillion cubic feet (TCF), making it a major asset in Pakistan’s energy portfolio. Over the years, its processing capacity has been expanded significantly, with facilities upgraded to handle up to around 600 million standard cubic feet per day (MMscfd).
At its peak, Qadirpur produced more than 500 MMcfd of gas, with earlier output reaching over 513 MMcfd following installation of compression facilities. However, like most mature fields, production has gradually declined over time due to reservoir depletion, with recent levels reported at around 320 MMcfd.
Despite this decline, the field continues to contribute around 7 percent of Pakistan’s total daily gas production, making it a critical indigenous energy source for power generation, industry, and domestic consumption.
With the latest transaction, OGDCL has further strengthened its dominance in the asset, enhancing its operational control over one of the country’s most strategic energy resources.
The development is being viewed as an important milestone for both OGDCL and Pakistan’s broader energy landscape, particularly at a time when the country is focusing on boosting domestic hydrocarbon production and improving energy security.
