Ogdc Invests $25 Million In Reko Diq Project, Balochistan

In a recent corporate briefing, the Oil and Gas Development Company Limited (OGDC) announced a significant investment of $25 million in the Reko Diq project, part of a larger $75 million investment by Pakistan Minerals Private Limited (PMPL) this quarter. The management reassured stakeholders that the project remains on track for production in 2028, stating, "No delays are expected so far as work at the mine is still ongoing." Reko Diq, located in Balochistan, is one of the world’s largest undeveloped copper and gold deposits, with ownership split between Barrick (50%), federal state-owned enterprises (25%), and the Government of Balochistan (25%). This investment is crucial for Pakistan's mining sector and economic growth, as it is expected to contribute significantly to exports and job creation once operational. Additionally, OGDC is advancing on other projects, with four out of six planned ventures currently under construction, projected to add approximately 215 million cubic feet per day of gas and 5,342 barrels per day of oil to domestic energy output by FY27.