Pakistan’s OGDC to Start Production at ADNOC’s Offshore Block by 2027

Thursday, April 10, 2025

Pakistan's Oil and Gas Development Company Limited (OGDC) expects to start production in Abu Dhabi's Offshore Block-5 by 2027, while also increasing domestic oil and gas output and diversifying into minerals, its CEO said on Wednesday.

OGDCL partnered with Abu Dhabi National Oil Company (ADNOC) in 2021 to explore and develop oil and gas resources in the block.

Ahmed Hayat Lak, managing director and CEO of OGDCL, told Reuters the reserves were still being evaluated, but the company believed production could start in 2027.

In terms of local exploration and production, Lak said the company was targeting crossing 50,000 barrels per day in oil production, up from 37,000, and gas output reaching 1 billion cubic feet, from around 800 million cubic feet, in the next three years.

"We have developed a short-term, medium-term and long-term strategy or business plan for investing in tight gas," said Lak, following improved pricing by the government.

Lak, speaking on the sidelines of the Pakistan Minerals Investment Forum 2025, also said the company planned on diversifying its operations.

OGDCL has an 8.3% stake in Pakistan's copper gold mine Reko Diq.

"We have decided, as part of the business strategy that we will diversify into the mineral sector, and as a result, yesterday we agreed to partner with Barrick Gold in other exploration licences too," said Lak

Lak called the company's stake in the Reko Diq copper-gold project a "game changer".

He said lithium exploration was also on the cards and would be one of the company's priorities.


(Reuters - Reporting by Ariba Shahid in Karachi; Editing by Alison Williams)

Categories: Middle East Industry News Activity Production Asia Oil and Gas

Related Stories

Keppel, Seatrium in $53M Arbitration Case Over Brazil Corruption Scheme

Subsea7 Secures Work at Black Sea Field off Türkiye

Seatrium Signs FLNG Vessel Upgrade Deal for Golar LNG

Cheniere, JERA Ink Long-Term LNG Sale and Purchase Agreement

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

CNOOC Brings New Offshore Gas Field On Stream

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

Indonesia's Medco Starts Production at Natuna Sea Fields

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

Current News

Technip Energies Gets FEED Job for Inpex’ Abadi LNG Project in Indonesia

Keppel, Seatrium in $53M Arbitration Case Over Brazil Corruption Scheme

Subsea7 Secures Work at Black Sea Field off Türkiye

CIP, Petrovietnam Team Up for Offshore Wind Project in Vietnam

Seatrium Signs FLNG Vessel Upgrade Deal for Golar LNG

EnQuest Enters Indonesia with Operatorship PSCs for Two Exploration Blocks

PXGEO Nets First Seismic Survey off Malaysia

SPE Offshore Europe 2025 set to drive transformational change for the energy sector

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

Norwegian Oil Investment Will Peak in '25

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com