KARACHI: Oil and Gas Development Company Limited (OGDCL) has commenced crude oil production from its Bobi Deep-1 discovery well in Sindh on a fast-track basis, less than a month after announcing the discovery.
In a notice submitted to the Pakistan Stock Exchange (PSX) on Monday, OGDCL said it had successfully connected the Bobi Deep-1 well to the existing Bobi processing plant through a newly laid 4-inch, 1.5-kilometre flowline to enable early monetisation of the discovery.
The Bobi Deep-1 well, located in the Bobi and Dhamraki Mining Lease in District Sanghar, Sindh, is currently producing 2,000 barrels of crude oil per day from the Massive Sand of the Lower Goru Formation. The company said there is no associated gas production from the well at present.
OGDCL had announced the discovery on June 3, 2026, and said the rapid commencement of production reflected its focus on accelerating development of indigenous hydrocarbon resources.
The state-owned exploration and production company is the sole operator of the Bobi and Dhamraki Mining Lease with a 100 percent working interest.
According to the market analysts, the commencement of production from Bobi Deep-1 is expected to contribute an annualised earnings impact of approximately Rs1.19 per share to OGDCL’s FY27 earnings, based on assumptions of an average Arab Light crude oil price of USD 70 per barrel and an exchange rate of Rs282.9 against the US dollar.
They added that the latest discovery further strengthens OGDCL’s exploration portfolio, following recent discoveries at Baragzai X-1, Sahito-1 and Bitrism East-1, supporting the company’s production growth outlook for FY27.
Copyright Business Recorder, 2026
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