OGDC Boosts Reko Diq Investment by $25M
Oil and Gas Development Company Limited (OGDC) has increased its financial commitment to the Reko Diq project by injecting an additional $25 million during the latest quarter aimed at affirming ongoing development activities remain on schedule.
This announcement was made during a recent corporate briefing where OGDC management expressed confidence in the project’s steady progress.
The Reko Diq project, located in Balochistan, is one of the world’s largest undeveloped copper and gold deposits.
Read More: US Announces $1.3B for Rekodiq Gold and Copper Project
The venture is managed through Pakistan Minerals Private Limited, a joint entity overseeing the country’s stake, which invested approximately $75 million in total during the quarter.
Ownership of the project is divided among Barrick with a 50 percent share, Pakistani state-owned enterprises holding 25 percent, and the Government of Balochistan possessing the remaining 25 percent.
The project is anticipated to commence production by 2028 and is expected to significantly contribute to Pakistan’s economic growth through increased exports and investment.
In addition to the Reko Diq investment, OGDC management provided updates on the company’s broader development pipeline. Out of six planned projects, two have been completed, while four—Uch, KPD TAY, Bettani, and Sinjhoro—are currently under development.
These projects are scheduled to come online between the second half of fiscal year 2026 and fiscal year 2027.
Upon completion, these developments are projected to add around 215 million cubic feet per day of gas and 5,342 barrels per day of oil, which will strengthen Pakistan’s energy supply and support national energy security.
The continued investments underscore the strategic importance of the Reko Diq project and OGDC’s commitment to expanding Pakistan’s energy and mineral resources sectors.