OGDCL’s 19 discoveries since 2023 to save Pakistan Rs1.2bn daily in fuel imports

• Finds across Sindh, Punjab and KP yield estimated 17,123 BPD of oil and 151 MMSCFD of gas

• Nine discoveries in FY2025-26 drive exploration surge and boost domestic energy supplies

• Baragzai X-01 emerges as standout find with potential output of 15,005 BPD oil

 ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL) has made 19 oil and gas discoveries across Sindh, Punjab, and Khyber Pakhtunkhwa since 2023, significantly bolstering Pakistan’s energy security and strengthening efforts to reduce the country’s dependence on costly fuel imports.

According to official documents available with Wealth Pakistan, the discoveries have an estimated cumulative production potential of around 17,123 barrels per day (BPD) of oil and 151 million standard cubic feet per day (MMSCFD) of gas, translating into daily import substitution worth nearly Rs1.2 billion.

The discoveries underscore OGDCL’s expanding exploration success and its growing contribution to narrowing Pakistan’s energy import bill at a time when the country is striving to enhance domestic hydrocarbon production and improve energy self-sufficiency.

The company made five discoveries during FY2023-24, adding an estimated 481 BPD of oil and 29.66 MMSCFD of gas, with a projected daily import substitution value of Rs283.48 million.

Another five discoveries were recorded in FY2024-25, contributing 947 BPD of oil and 34.49 MMSCFD of gas and helping reduce import costs by approximately Rs279.70 million per day.

Exploration activities gained further momentum during the first nine months of FY2025-26, when OGDCL made nine additional discoveries with an estimated production potential of 15,695 BPD of oil and 86.95 MMSCFD of gas. These finds alone are expected to save around Rs633.45 million per day in import expenditure.

Among the most notable discoveries was the multi-zone hydrocarbon find at Baragzai X-01, which demonstrated a tested cumulative production potential of about 15,005 BPD of oil and 45.36 MMSCFD of gas, making it one of the company’s most significant recent finds.

The documents also highlighted a marked improvement in OGDCL’s Reserve Replacement Ratio (RRR) — a key industry indicator that measures reserve additions against production. The ratio stood at 56 percent in FY2023-24 before surging to 167 percent in FY2024-25 and remaining robust at 153 percent during the first nine months of FY2025-26.

Reflecting this trend, the company’s reserve life increased from 14 years to 17 years as of March 31, 2026, extending its hydrocarbon sustainability outlook by three years.

The documents further revealed that OGDCL brought 34 wells and fields into production during the review period as part of its strategy to monetize discovered resources and enhance hydrocarbon output.

In FY2022-23, the company brought five wells online with production of 990 BPD of oil and 18.28 MMSCFD of gas. During FY2023-24, 11 wells added 4,398 BPD of oil and 43.23 MMSCFD of gas, while eight wells commissioned in FY2024-25 contributed 744 BPD of oil and 41.80 MMSCFD of gas.

During FY2025-26 up to April, another 11 wells were brought into production, with output estimated at 9,734 BPD of oil and 74.25 MMSCFD of gas.

Meanwhile, OGDCL intensified its production enhancement efforts by carrying out more than 65 rig workovers and over 295 rigless interventions across various fields. These measures generated an estimated incremental production impact of around 17,000 BPD of oil and 90 MMSCFD of gas, further reinforcing the company’s role in strengthening Pakistan’s domestic energy supplies.