ISLAMABAD: Pakistan’s Oil and Gas Development Company Limited (OGDCL) has announced the discovery of 19 oil and gas reserves across Sindh, Punjab, and Khyber Pakhtunkhwa since 2023, marking a significant development in Pakistan’s efforts to enhance energy security and reduce reliance on costly fuel imports.
According to official documents reviewed by Wealth Pakistan, the newly discovered reserves carry an estimated combined production potential of approximately 17,123 barrels per day (BPD) of crude oil and 151 million standard cubic feet per day (MMSCFD) of natural gas. The cumulative impact of these discoveries is expected to contribute around Rs1.2 billion in daily import substitution.
The company’s exploration performance shows a steady upward trajectory over the three financial periods under review. During FY2023-24, OGDCL made five discoveries, contributing an estimated 481 BPD of oil and 29.66 MMSCFD of gas, with a projected daily import saving of Rs283.48 million.
In FY2024-25, another five discoveries were recorded, adding 947 BPD of oil and 34.49 MMSCFD of gas to the national output. These finds further reduced import expenditure by an estimated Rs279.70 million per day, reinforcing the company’s role in domestic hydrocarbon expansion.
The most significant acceleration was observed during the first nine months of FY2025-26, when nine additional discoveries were made. These alone are estimated to have a production potential of 15,695 BPD of oil and 86.95 MMSCFD of gas, generating projected daily import savings of around Rs633.45 million.
Among the major breakthroughs, multi-zone hydrocarbon discoveries at Baragzai X-01 stand out, with a tested cumulative output potential of approximately 15,005 BPD of oil and 45.36 MMSCFD of gas, making it one of the most productive finds in the reviewed period.
The documents further highlight a marked improvement in the company’s Reserve Replacement Ratio (RRR), a key performance indicator comparing newly added reserves with production levels. The ratio rose from 56 per cent in FY2023-24 to 167 per cent in FY2024-25, before settling at a strong 153 per cent during the first nine months of FY2025-26.
As a result of sustained exploration success, OGDCL’s reserve life has improved from 14 years to 17 years as of March 31, 2026, reflecting a three-year extension in its hydrocarbon sustainability outlook.
In addition to exploration gains, the company brought 34 wells and fields into production during the review period, aiming to commercialise discovered resources and enhance national output. In FY2022-23, five wells commenced production, delivering 990 BPD of oil and 18.28 MMSCFD of gas.
During FY2023-24, 11 wells were brought online, contributing 4,398 BPD of oil and 43.23 MMSCFD of gas. In FY2024-25, eight additional wells added 744 BPD of oil and 41.80 MMSCFD of gas, while in FY2025-26 up to April, another 11 wells commenced production with an output of 9,734 BPD of oil and 74.25 MMSCFD of gas.
OGDCL has also stepped up production enhancement activities through more than 65 rig workovers and over 295 rigless interventions across various fields. These operational efforts have delivered an estimated incremental production gain of around 17,000 BPD of oil and 90 MMSCFD of gas, further strengthening domestic energy supply.
