The Government of Pakistan has increased its ownership in Oil and Gas Development Company Limited (OGDCL) to 77.53 percent after more than 432 million shares were transferred from the company’s Employees Empowerment Trust.

In a notification submitted to the Pakistan Stock Exchange (PSX) and the London Stock Exchange (LSE), OGDCL said 432,189,039 ordinary shares were transferred to the government in accordance with the Supreme Court’s ruling on matters related to the Benazir Employees Stock Option Scheme (BESOS).

The transfer was completed on July 8, 2026, with the shares registered in the name of the President of the Islamic Republic of Pakistan at a transfer value of Rs. 0 per share.

Following the transaction, the government’s direct shareholding in OGDCL increased from 67.48 percent to 77.53 percent, raising its total holding to 3.334 billion shares.

The company said the transfer implements the Supreme Court’s decision regarding BESOS-related shares and updates the government’s ownership position in Pakistan’s largest exploration and production company.