ISLAMABAD: Oil and Gas Development Company Limited (OGDC) has continued to scale up its investment in the Reko Diq copper-gold project, contributing $25 million during the latest quarter as development work progresses steadily.
The update was shared during a corporate briefing session held on February 23, 2026, attended by brokerage firm Topline Securities, according to a report.
Management informed participants that a total of approximately $75 million was injected into the project during the quarter by Pakistan Minerals Private Limited (PMPL), with OGDC’s share amounting to $25 million. The company expressed confidence that work at the mine remains on track, with no delays reported so far.
Reko Diq, located in Balochistan, is regarded as one of the world’s largest undeveloped copper and gold deposits. The project is owned 50 per cent by Barrick Gold, 25 per cent by three federal state-owned enterprises including OGDC, and 25 per cent by the Government of Balochistan — of which 15 per cent is on a fully funded basis and 10 per cent on a free-carried basis.
The mine is targeted to begin production in 2028 and is expected to emerge as a world-class copper and gold operation, significantly contributing to Pakistan’s economic growth and export earnings.
Progress on Other Development Projects
OGDC management also provided updates on its broader development portfolio. Of the six planned development projects, two — Jhal Magsi and Dakhni — have been completed.
The remaining four projects — Uch, KPD-TAY, Bettani and Sinjhoro — are currently under development and are expected to come online during the second half of FY26 through FY27.
Upon completion, these projects are projected to add incremental production of approximately 215 million cubic feet per day (mmcfd) of gas and 5,342 barrels per day (bpd) of oil, further strengthening the company’s output profile.
