Oil and Gas Development Company Limited has reported an increase in Profits in 1st quarter of the year 2022-23.
Profits jumped by 58.50% YoY to Rs53.30 billion (EPS: Rs12.39), compared to the profits of Rs33.62bn (EPS: Rs7.82) earned in the same period last year.
OGDC is making progress in developmental projects. Qadirpur compression project takes production capacity to 237mmcfd of raw gas, which is completed in Feb’22
The Uch compression project is likely to be completed by Dec’23 and expected to add incremental 40mmcfd to production.
