Business Development
Reko Diq Mining Project:
OGDCL is a partner in the Reko Diq mining project. OGDCL entered into definitive agreements with the Federal Government, Government of Balochistan, GHPL, PPL and Barrick Gold Corporation for extraction of gold and copper reserves from Reko Diq. The state-owned enterprises (SOEs); OGDCL, PPL and GHPL hold 25% of equity in the project, divided equally among these companies. Barrick Gold holds 50% of equity in the project along with management and operatorship rights, while remaining 25% of equity pertains to the Government of Balochistan. In order to manage the equity shareholding of the SOE’s, a special purpose vehicle (SPV) namely Pakistan Minerals (Private) Limited (PMPL) has been incorporated.
The project feasibility study was completed in January 2025 and approved by OGDCL Board, following which Project Company Board i.e. Reko Diq Mining Company, has also approved the feasibility study. The Early works have been initiated at the site as the project enters construction phase. Arrangement of project finance is at an advanced stage.
Pakistan International Oil Limited (PIOL), Offshore Block-5, Abu Dhabi
OGDCL along with consortium members; PPL (operator), MariEnergies and GHPL were awarded Offshore Block-5 in Abu Dhabi on 31 August 2021. The consortium companies have established an independent company namely Pakistan International Oil Limited (PIOL) at Abu Dhabi Global Market with each entity having 25% equity stake in PIOL The award of concession is the first opportunity for Pakistani E&P companies to explore, appraise and develop oil and gas resources in Abu Dhabi.
At Offshore Block-5, planned exploration and appraisal activities are underway.
OGDCL unlocking Geothermal Potential
OGDCL initiated a strategic collaboration with SLB to explore geothermal energy potential in Pakistan. The comprehensive study, completed in December 2024, involved a meticulous screening process of 25 pre-selected fields across Pakistan's North, South, and Central basins. Through rigorous analysis, the study identified nine promising fields for detailed evaluation, showcasing the potential for geothermal energy development in the country.
Domestic Farm-ins / Farm-outs;
OGDCL continues to optimize its portfolio through farm-in and farm-out of exploration blocks within Pakistan. This approach is designed to foster collaboration, leverage knowledge, and drive growth, reinforcing OGDCL's leadership position in Pakistan's energy sector.
