KARACHI: Oil and Gas Development Company Limited (OGDCL) has begun crude oil production from its Bobi Deep-1 discovery well in Sindh, less than a month after announcing the successful discovery, underscoring the company’s commitment to the rapid development and monetization of indigenous hydrocarbon resources.
In a notice submitted to the Pakistan Stock Exchange (PSX), OGDCL announced that it has successfully connected the Bobi Deep-1 well to the existing Bobi Processing Plant through a newly constructed 4-inch, 1.5-kilometre flowline, enabling the early commercial production of crude oil.
Located within the Bobi and Dhamraki Mining Lease in District Sanghar, Sindh, the Bobi Deep-1 well is currently producing 2,000 barrels of crude oil per day (BOPD) from the Massive Sand reservoir of the Lower Goru Formation. The company confirmed that the well is not producing associated natural gas at this stage.
OGDCL had announced the discovery of Bobi Deep-1 on June 3, 2026, and stated that the swift transition from discovery to production highlights its operational efficiency and strategic focus on accelerating the development of Pakistan’s domestic oil and gas resources.
The state-owned exploration and production company is the sole operator of the Bobi and Dhamraki Mining Lease, holding a 100% working interest in the project.
Market analysts believe the commencement of production from Bobi Deep-1 will provide a positive boost to OGDCL’s financial performance. Based on an average Arab Light crude oil price of US$70 per barrel and an exchange rate of Rs282.9 per US dollar, analysts estimate the project could contribute approximately Rs1.19 per share to the company’s FY2026-27 earnings on an annualized basis.
The successful start of production further strengthens OGDCL’s exploration and production portfolio, following a series of recent hydrocarbon discoveries, including Baragzai X-1, Sahito-1, and Bitrism East-1, reinforcing the company’s production growth outlook for FY2026-27 and its role in enhancing Pakistan’s energy security.
Story by Muhammad Saqib
