OGDCL – An Overview

PRESENTATION TOLAHORE STOCK EXCHANGE

September 12, 2013

Forward Looking Statements

During the course of this presentation we may make forward-looking statements regardingfuture events or the future performancelooking statements involve inherent risks risks exist that the predictions, forecasts,

of the Company. By their very nature, forwardand uncertainties, both general and specific and projections and other forward looking statements

will not be achieved. You should be aware that a number of important factors could causeactual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. Furthermore, OGDCL does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise, other than that as required by applicable laws, the listing rules or prospectus rules of the United Kingdom listing authority, the Pakistani Capital Market’s authority or the Karachi Stock Exchange.

When relying on forward looking statements you should carefully consider the political,economic, social and legal environment in which OGDCL operates. The documents filed from time to time with the above-stated listing authorities may identify important factors that could cause actual results to differ materially from those contained in any forward-looking statements.

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C

ContentsCountry Overview

Investment Case

Pakistan Energy Dynamicso Energy Supply Mixo Oil & Gas Demand/Supply Gap

Pakistan Oil & Gas sector

OGDCL Profileo Historical Milestoneso Current Standingo Reserve Replacement Ratioo Exploration Licences

OGDCL’s Market Leadership (Oil & Gas)o Acreageo Production

Production Growth – Development Projects

Financial Strengtho Financial Highlightso Capital Expenditure

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India (East) Afghanistan (West) China (North)

Country Overview – As of June 30-2013 (or as indicated below)

Location South Asia

Total Area of Pakistan

Population

796,095 Sq. kms

184.35 million

India (East), Afghanistan (West), China (North), Iran (Southwest), Arabian Sea (South)

Neighboring Countries

Sea Ports (International) Karachi, Bin Qasim and Gwadar

Major International Airports Islamabad, Karachi, Lahore, Peshawar

GDP Growth Rate (Estimated) 3.6%

KSE 100 Index Market Capitalization(September 4, 2013) $51.49 billion* (Rs 5,423 billion)

4*Exchange Rate (Rs/USD) as at September 4, 2013 = 105.34 Source: Pakistan Board of Investment, Karachi Stock Exchange, State Bank of Pakistan

O ti

Investment Case

Largest upstream player in Pakistan

Excellent production and

exploration prospects

Strongfinanci

al positio

n

FavourableOperatingEnvironm

ent

Provenexplora

tion track

record

Attractive costsand returns

5

6 6%

0 5%

Pakistan Energy Dynamics - Energy Supply Mix

Primary Energy Supplies as of 2011-12 = 64.7 *MTOE

6.6%

* MTOE = Metric Tonne Oil Equivalent Source: Pakistan Energy Year Book 2012 6

Oil LPG Gas Coal Electricity12.6%

30.8%

0.5%

49.5%

Local Supply Oil & Gas Demand

0 0 0 0 0 0 0

Pakistan Energy Dynamics - Oil & Gas Demand/Supply Gap

120

100

80

60

40

20

0

1 TOE (Tonne of Oil Equivalent ) = 7.4 BOE (Barrel of Oil Equivalent)

Source: Pakistan Energy Outlook 2010-117

Mill

ion

TO

Es

2012

-13

2013

-14

2014

-15

2015

-16

2016

-17

2017

-18

2018

-19

2019

-20

2020

-21

2021

-22

2022

-23

2023

-24

2024

-25

2025

-26

Local Supply Oil & Gas Demand

Upstream Midstream

Pakistan Oil & Gas Sector

Downstream

Oil Refineries and GasExploration &

Production Companies

Marketing & Distribution CompaniesCompanies

Oil Refineries & GasTransportation CompaniesPARCO, NRL, ARL, PRL,

Exploration & ProductionCompaniesOGDCL, PPL, POL, Mari Gas

Marketing & DistributionCompaniesPSO, SHELL, CALTEX, AOC,BYCO

SNGPL, SSGCLOMV, ENI, MOL, BHP, UEPL,Tullow, OPL, KUFPEC

BYCO, TOTALSNGPL, SSGCL

8

Corporation (loan of 27Million Roubles No longer funded

C d t

OGDCL Profile – Historical Milestones…

July 1989Made Self-Financing

20 September 1961Established as a StatutoryCorporation (loan of 27Million Roubles from USSR equivalent to Rs 143 Million) To undertake exploratory

program and promotePakistan’s oil and gas prospects

No fundedfrom Federal Budget

1960 1964 1968 1976 1980 1984 1988

1976DhodakGas-

1980s: 21 DiscoveriesDakhni, Nandpur, Panjpir, Chak Naurang, Tando Alam, Gotana, Thora, Sono, Fimkassar, Lashari, Bobi, Kunnar, Pasakhi & Loti

1968TootOil

1977Pirko

hGas

1966Sari / Hundi

GasCondensate

1980s: Multiple Discoveries0.9

211.0* The reserves are based on the

OGDCLGas (TCF)Oil (MMBBL) OTHER’S Gas (TCF)Oil (MMBBL)

1968-

16.0

19760.4023.8

6

19660.05

-

19771.62

-

latest available 3 Party Reservesrd

1.0184.0

0.541.6

0.555.0

--

--

Evaluation Study by M/s Tracs Intlof UK.

9

B

sin

ess

Mil

esto

nes

Co

rpo

rate

Mil

esto

nes

Res

erve

*

Ad

dit

ion

Pakistan

Magsi Sinjhoro Nim Mela Nas -

OGDCL Profile – Historical Milestones…

September 2011OGDCL Celebrated itsGolden Jubilee on20th September 2011

December 2006October 1997 November 2003Converted to Initial Public Offering

August 2009GoP transfers around10% of its holding to employees on 14th

August 2009 through BESOS*

Company listedon London Stock Exchange Formulation of business plan

GoP divested 5%of holding

Company listed on all 3 Stock Exchanges in

PublicLimitedCompany

... 1992 20132000 20121999 2004 2006 2009 2011

1990s: 18 DiscoveriesQadirpur, Uch, Sadqal, Missa Keswal, Rajian, Kal, Tando Allahyar

FY201303 DiscoveriesNashpa -3, Zin SML-1Suleman-1

2000s: 43 DiscoveriesChanda, Dars, DarsDeep, Pasakhi Deep, KunnarDeep, Bahu, JhalMagsi, Sinjhoro, Nim, Mela, Nas hpa

2000s3.3

142.0

FY201202 DiscoveriesNashpa -2Zin X-1

FY201102 DiscoveriesGopang-1Sheikhan-1

1990s10.458.9

OGDCLGas (TCF)Oil (MMBBL) OTHER’S Gas (TCF)Oil (MMBBL)

4.172.5

**The reserves are based on the latest available 3rd

Party Reserves Evaluation Study by M/s Tracs Intl,UK

6.158.6 10* BESOS = Benazir Employees Stock Option Scheme

usi

nes

sil

est

on

esC

orp

ora

teM

iles

ton

esR

eser

ves

**A

dd

itio

n

+ fi ld il (J )

Profile Standing…

Incorporated as a Corporation in August 1961 and converted into public limited Company in October 1997

Largest E&P Company with presence in all the four provinces of Pakistan; Government of Pakistan holds74.97% interest

667 wells drilled since inception & 97 discoveries made (up to September 5, 2013)

Robust financial health with Net Sales & Profit after tax of Rs 223 billion & Rs 91 billion respectively during the year 2012-13

Listed on Karachi, Lahore & Islamabad Stock Exchanges (January 2004)

Global Depositary Shares (GDSs) issued on London Stock Exchange (December 2006)

Market Capitalization (September 4, 2013) – Rs 1,065.68 billion ($10.12 billion*) – 4.301 billion shares

Trained and experienced Human Resource base comprising of 13,000 plus employees

Sound equipment base

10 Owned Rigs plus 5 Contractor rigs, 5 Seismic Data Acquisition Crews, 5 Engineering Field PartiesFGCPs

Largest reserves and production share of oil & gas in the Country

60+ producing fields of oil & gas (June 2013)

OGDCL Institute of Science & Technology

*Exchange Rate (Rs/USD) as at September 4, 2013 = 105.34

and 3

11

30 of (as December )

Remaining Reserves net

OGDCL Profile – Current Standing… As of June 30, 2013 (or as indicated below)

Largest exploration and production company in Pakistan’s oil and gas sector. Presence in andknowledge of all the 4 provinces

Largest exploration acreage in Pakistan, covering 21% of the total acreage awarded

Largest portfolio of net hydrocarbon reserves in Pakistano 37% of oil (as at December 2012)o 30% of gas (as at December 2012)

OGDCL contributes 26% of Pakistan’s total natural gas production, and 54% of its oil production (duringfiscal year 2012-13)

Remaining Recoverable Reserves on net basiso 562 MMBOE* on 1P basis (Oil 52 and Gas 510)o 1,017MMBOE* on 2P basis (Oil 109 and Gas 908)

73 OGDCL D&PLs – 100% Owned & Operated (57) and Non-Operated fields (16)

Average Daily Production (July 2013 to date)o Crude oil 41,300 BPDo Gas 1,050 MMCFD

24 wells spudded and 03 new discoveries made (2012-13)*MMBOE: Million Barrels of Oil Equivalent , 1 Barrel of Oil = 5.7 Mscf

D&PL = Development & Production Lease

Source: Pakistan Petroleum Information Services

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(* RP R ti )

15

OGDCL Profile – Current StandingSignificant Reserves Position

OGDCL (1P & 2P) reserves as at June 30, 2013Reserve Life(* RP Ratio)1,200

15yrs

8yrs

-

LongReserveLife

* RP Ratio: Reserve to Production Ratio

** The reserves are based on the latest available 3rd Party Reserves Evaluation Study by M/s Tracs Intl of UK. The production for the period of July 2010 to June2013 has been deducted from the remaining recoverable reserves number 13

mm

bo

e

1,000

1,017

398 455

800

600 510 562 57

455

400

200

562

52

Proved Oil Reserves Proved Gas Reserves Proved Reserves Probable Oil Reserves Probable Gas Probable Reserves Proved + ProbableReserves

99%

2008 09 ‐ 2009 10 ‐ 2010 11 ‐ 2011 12 ‐ 2012 13 ‐ 5 yrs Average

OGDCL Profile – CurrentReserves Replacement Ratio

Standing

Reserves Replacement Ratio140%

120%

100%

80%

60%

34%40%

13%20%

0%

2008 2009 2010 2011 2012 5 Average

14

124%

99%

65% 67%

SP T i 2D

OGDCL Profile – ExplorationStatus as on June 30, 2013

Licenses

OGDCL acquiredtwenty nine (29) new exploration blocks by participating in the competitivebidding of PetroleumExploration Rights on March 10, 2013

(3) Sohni wala-1

(2) Zin Deep-1

SEISMIC OPERATIONS

Crew Area Mode

SP-1 Bitrisim 3D

SP-2 Mianwali 2D

SP-3 Gurgalot 2D

SP-4 Tegani andPali

2D

SP-5 Chanda-Mela 3D

WELLS UNDER DRILLING (June 30, 2013)

PROVINCE NAME OF WE LLS

KPK (1) Nashpa-4 (2) Mela-4

Punjab

(1) Kurram-1 (2) Soghri-1

(4) Jand -1

Sindh(1) Qadirpur 48 (2) Qadirpur-47 (3) Sara West -4

Balochistan(1) Zin SML-2

LEGENDPROVINCE OGDCL

OPERATEDNON

OPERATED

Punjab 07 -

Sindh 09 -

Balochistan 10 01

KPK 05 02

Offshore 02 03

Total 33 06

Drilling Activities

Seismic Acquisition

Market –

Total Area of Pakistan - 796,095 Sq. kms

Area under Exploration – 247,246 Sq. kms(31.1% of Total Area)

OGDCL Share - 51,807 Sq. kms

OGDCL, 21%Other E&P Co. Share - 195,439 Sq. kms

* As of June 30, 2013Source: Pakistan Petroleum Information Services (PPIS)

16

Other E&P Companies,

79%

OGDCL Other E&P Companies

Oth E&P

OGDCL’s Market Leadership – Production*...

OIL

Country’s Total

OGDCL’s Share

Other E&P Companies Share

76,277 BPD

41,400 BPD

34,877 BPD

54%

46%

OGDCL54%

Other E&PCompanie

s46%

* During FY 2012-13Source: Pakistan Petroleum Information Services (PPIS)

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OGDCL’s Market Leadership – Production*

GAS4,126 MMCFDCountry's Total

OGDCL's Share 26%

74%

1,089 MMCFD

3,036 MMCFDOther E&P Companies

OGDCL26%

Other E&PCompanies

74%

* During FY 2012-13Source: Pakistan Petroleum Information Services (PPIS) 18

Total Oil & Gas Production in Equivalent Barrels

* Barrels of Oil Equivalent, 1 barrel of oil = 5.7 Mscf

19

Products Average Daily Production(BOE*) July 2013 to date

Crude Oil 41,300

Gas (1,050 MMCFD) 184,211

Total 225,511

OGDCL - 77 5%

(MMCFD) (BPD) (MTD)

Production Growth – Development Projects

Current: 100 1,500 120

Current: 16 1,400 50

Total: 25 3,000 120

Current: 48 14,465 -

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ProjectsWorking Interest

LocationExpected

KPD-TAY IntegratedDevelopment Project

KPD OGDCL - 100% TAY

- .5% GHPL - 22.5%

Hyderabad Sindh

Gas Oil LPG (MMCFD) (BPD) (MTD)

Incremental: 130 3,600 290

Total: 230 5,100 410

Sinjhoro OGDCL- 62.5% OPI - 15.0% GHPL - 22.5%

Sanghar Sindh

Gas Oil LPG (MMCFD) (BPD) (MTD)

Incremental: 9 1,600 70

Uch-II DevelopmentProject

OGDCL - 100%Dera Bugti

BalochistanGas: 160 MMCFD

Jhal MagsiDevelopment Project

OGDCL - 56% POL - 24% GHPL - 20%

Jhal MagsiBalochistan Gas: 15 MMCFD @ 934 BTU/SCF

Nashpa / MelaDevelopment Project

OGDCL-56.45% PPL - 28.55% GHPL - 15.0%

Karak & Kohat, KPK

Gas

Oil LPG (BPD)

Incremental: 41 9,185 340Total 89 23,650 340

131

FinancialRs in billion

Strength – Net Sales & Profit after Tax

250

200

150

100

50

-

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

Net Sales PAT

21

91

223

CAGR (11%)

198

156

97

64

143

126 131

CAGR (10%)

56 59

44

O ti fit i (%) 59 56 58

42 49

Financial Strength

activities

share (Rs.)

22

Rs in Million 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

Net Sales 125,908 130,830 142,575 155,631 197,839 223,365

59 59 60 56 62 58

69 70 71 71 74 69

35 42 42 41 49 41

44,338 55,540 59,177 63,527 96,906 90,777

74,397 77,500 85,188 87,600 123,335 130,017

10.31 12.91 13.76 14.77 22.53 21.11

9.50 8.25 5.50 5.50 7.25 8.25

Operating profit margin (%)

EBITDA margin (%)

Net profit margin (%)

Profit after tax

Profit from operating

Earnings per share (Rs.)

Cumulative dividends per

O ti

Investment Case

Largest upstream player in Pakistan

Excellent production and

exploration prospects

Strongfinanci

al positio

n

FavourableOperatingEnvironm

ent

Provenexplora

tion track

record

Attractive costsand returns

23

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