The company was established in 2013 to explore oil and gas in the southern belt of the province but the government admitted that the OGCL couldn't discover oil and gas.
According to the official reply, OGCL chief executive officer Mohammad Raziuddin was paid Rs2 million salary a month in addition to other perks and privileges.
The department concerned revealed in the reply that OGCL manager (finance) Amjad Sheikh was getting Rs750,000, manager (human resource) Nauman Akbar Rs450,000, manager exploration (DPC) Tariq Rashid Rs200,000 salary a month.
Speaking on the occasion, the Chief Executive Officer (CEO), KP Oil and Gas Company Limited (KP OGCL
), Raziuddin, Pro Vice Chancellor, UET Peshawar, Dr.
is in the process of launching convertible bonds probably to raise funds to address the circular debt issue.
When contacted, KP Oil and Gas Company Limited (OGCL
) chief executive officer Mohammad Raziuddin said the company had only the data of December, which showed the province's crude oil production had cut down by 10,000 barrels per day, while gas production was curtailed 80 million cubic feet of gas.