ISLAMABAD – The Oil and Gas Development Company Limited (OGDCL) has made 19 oil and gas discoveries across Sindh, Punjab, and Khyber Pakhtunkhwa since 2023, marking a major boost to Pakistan’s energy security and a key step toward cutting reliance on expensive fuel imports.
According to official documents available with Wealth Pakistan, the discoveries carry 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, said a press release. The finds are expected to generate daily import substitution worth nearly Rs1.2 billion. Five discoveries were made during FY2023-24, contributing 481 BPD of oil and 29.66 MMSCFD of gas, with an estimated daily import substitution of Rs283.48 million.
Another five discoveries were recorded in FY2024-25, adding 947 BPD of oil and 34.49 MMSCFD of gas, while reducing import costs by Rs279.70 million per day. During the first nine months of FY2025-26, the OGDCL accelerated its exploration activities and made nine additional discoveries with an estimated production potential of 15,695 BPD of oil and 86.95 MMSCFD of gas. These discoveries alone are projected to save around Rs633.45 million daily in import expenditure. Among the major discoveries, multi-zone hydrocarbon finds at Baragzai X-01 were particularly significant, with a tested cumulative production potential of around 15,005 BPD of oil and 45.36 MMSCFD of gas.
The company also reported a steady improvement in its Reserve Replacement Ratio (RRR), a key indicator measuring reserve additions against production. The ratio stood at 56 percent in FY2023-24, jumped to 167 percent in FY2024-25, and remained strong at 153 percent during the first nine months of FY2025-26. As a result, the OGDCL’s reserve life increased from 14 years to 17 years as of March 31, 2026, reflecting a three-year expansion in the company’s hydrocarbon sustainability outlook. The documents further revealed that the OGDCL brought 34 wells and fields into production during the review period as part of efforts to monetize discovered resources and enhance output.
In FY2022-23, the company brought five wells online producing 990 BPD of oil and 18.28 MMSCFD of gas. During FY2023-24, 11 wells added 4,398 BPD and 43.23 MMSCFD, while eight wells in FY2024-25 contributed 744 BPD and 41.80 MMSCFD. For FY2025-26 till April, another 11 wells were brought into production with output estimated at 9,734 BPD of oil and 74.25 MMSCFD of gas. The OGDCL also intensified its production enhancement measures, carrying out more than 65 rig workovers and over 295 rigless interventions across various fields. These activities generated an estimated incremental production impact of about 17,000 BPD of oil and 90 MMSCFD of gas.