ISLAMABAD: Oil and Gas Development Company Limited has reaffirmed its strong commitment to the Reko Diq copper and gold project, injecting 25 million dollars during the latest quarter as part of a broader 75 million dollar investment made through Pakistan Minerals Private Limited. The update was shared during a corporate briefing session held on February 23, 2026, attended by brokerage firm Topline Securities.

Company management expressed confidence that development work at the Reko Diq mine in Balochistan is progressing without delay. Officials stated that no setbacks have been reported so far and that construction and preparatory activities remain on track in line with the targeted production timeline of 2028.

Reko Diq is regarded as one of the largest undeveloped copper and gold deposits in the world. The project ownership structure includes 50 percent held by Barrick, 25 percent by three federal state owned enterprises including OGDC, and 25 percent by the Government of Balochistan. Of Balochistan’s share, 15 percent is fully funded while 10 percent is on a free carried basis.

The mega mining venture is expected to transform Pakistan’s mineral sector and significantly contribute to foreign exchange earnings and long term economic growth. Once operational, Reko Diq is projected to rank among world class copper gold mining operations.

Separately, OGDC management highlighted progress on its domestic exploration and production portfolio. Out of six planned development projects, two namely Jhal Magsi and Dakhni have been completed successfully.

The remaining four projects including Uch, KPD TAY, Bettani and Sinjhoro are under development and are expected to come online between the second half of fiscal year 2026 and fiscal year 2027. Upon completion, these projects are projected to add around 215 million cubic feet per day of gas and 5342 barrels per day of oil to national output.