OGDC continues funding in Reko Diq with $25m quarterly investment

The management of Oil and Gas Development Company Limited (OGDC), Pakistan’s largest E&P, said it continued to ramp up investment in the Reko Diq project, with around $75 million injected during the quarter, of which $25 million represents OGDC’s share, as development work at the mine progresses without delay.

This was shared during a corporate briefing session held on February 23, 2026, which was attended by brokerage house Topline Securities, as noted in a report.

“Management remains positive on the Reko Diq project, noting that no delays are expected so far as work at the mine is still ongoing,” read the report.

Barrick corporate changes won’t affect Reko Diq, says OGDC

According to management, approximately $75 million was invested by Pakistan Minerals Private Limited (PMPL) during this quarter, translating into $25 million as OGDC’s share.

Reko Diq is a massive, undeveloped copper and gold deposit located in Balochistan, Pakistan, which is believed to be one of the world’s largest. The project is owned 50% by Barrick, 25% by three federal SOES, including OGDC, 25% by the Government of Balochistan, of which 15% is on a fully funded basis and 10% is on a free carried basis.

The project, which aims to start production in 2028, is expected to become a world-class copper-gold mine, contributing to Pakistan’s economic development.

Meanwhile, OGDC management shared that out of the six planned development projects, the company has completed two, i.e. Jhal Magsi and Dakhni.

“Meanwhile, the remaining four projects, Uch, KPD-TAY, Bettani and Sinjhoro are currently under development and are expected to come online over 2HFY26-FY27.

Upon completion, these projects are projected to add incremental production of around 215 mmcfd of gas and 5,342 bpd of oil,” it added.