Topics: Petroleum, Oil well, Natural gas Pages: 12 (3336 words) Published: May 19, 2013
Vision of OGDCL is “To be a leading multinational Exploration and Production Company”. Mission:
Mission of OGDCL is “To become the leading provider of oil and gas to the country by increasing exploration and production both domestically and internationally, utilizing all options including strategic alliances. To continuously realign ourselves to meet the expectations of our stakeholders through best management practices, the use of latest technology, and innovation for sustainable growth, while being socially responsible”. History:

Before the emergence of OGDC, Exploratory duties are carried out by Pakistan oil field and Pakistan Petroleum. With the advent of huge gas reservoirs in Sui in 1952, the interest in exploration increase and five foreign oil firm signed agreement with govt. to do exploration of oil and gas but in late 1950’s, these companies lose their interest and due to no proper infrastructure and non existence of demand. So in order to save this industry and explore the huge undiscovered reservoirs, Govt. of Pakistan signed a loan agreement with USSR and gets the Russian Exploratory experts and technology and laid the foundation of OGDC in 1961. Before all of the funding and rule and regulations are imposed by govt. of Pakistan. In start the more concentration was given to the development of human resource and making a strong infrastructure to conduct huge exploratory projects. At start with the financial assistance by different donor agencies, OGDC completed many exploratory projects in Pakistan during1968 to 1972. Toot oil field was the major success in 1968. In 1970, company concentrated on developing its technical capabilities. This resulted in discovery of a number of oil and gas fields in the Eighties, thus giving the Company a measure of financial independence. These include the Thora, Sono, Lashari, Bobi, Tando Alam & Dhodak oil/condensate fields and Pirkoh, Uch, Loti,Nandpur and Panjpir gas fields which are commercial discoveries that testify to the professional capabilities of the Corporation. In1982 Pirkoh Gas Company Ltd, a wholly owned subsidiary was established to look after the oil field in Dera Bughti. OGDC also concentrated on developing its human resource because human resource has its own importance. So to fulfill this objective OGDC established its own institute with the name of Oil and Gas Training Institute (OGTI) to train it own professionals as well as fresh engineers. This institute is equipped with latest technology and instrument to keep professionals up-to-date with new emerging technologies in oil and gas industry. An important shift in the policy during the Seventh Five Year Plan period was a change in the financing of the development program of various public sector entities, including OGDC. The Seventh Plan investigated that OGDC will be strengthened and restructured and its operations streamlined to transform it into a financially viable and administratively autonomous entity. Noting the Company's success, due to major oil and gas discoveries in the eighties, the Government in July 1989, off-loaded the Company from the Federal Budget and allowed it to manage its activities with self generated funds. The financial year 1989-90, was OGDC's first year of self-financing. It was a great challenge for OGDC. The obvious initial target during the first year of self-financing was to generate sufficient resources to maintain the momentum of exploration and development at apace envisaged in the Public Sector Development Program (PSDP) as well as to meet its debt servicing obligations. OGDC not only generated enough internal funds to meet its debt obligations but also invested enough resources in exploration and development to increase the country's reserves and production. Prior to 23rd October 1997, OGDC was a statutory Corporation and was known as OGDC (Oil and Gas Development Corporation).Strengthening of its Board of Directors and allowing it more...
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