ISLAMABAD, April 10, 2025: Pakistan’s state-run Oil and Gas Development Company Limited (OGDCL) plans to commence production from Abu Dhabi’s Offshore Block-5 by 2027, marking a major step in its international expansion, said CEO Ahmed Hayat Lak on Wednesday.
Speaking on the sidelines of the Pakistan Minerals Investment Forum 2025, Lak stated that while reserves in the ADNOC-partnered block are still under evaluation, the company anticipates production within two years.
Domestically, OGDCL aims to ramp up its oil production from 37,000 to over 50,000 barrels per day and increase gas output from 800 million to 1 billion cubic feet in the next three years. Lak highlighted a new short, medium, and long-term strategy to invest in tight gas, following favorable revisions in pricing policies.
He also revealed OGDCL’s strategic pivot into mineral exploration. The company, which holds an 8.3% stake in the Reko Diq copper-gold project, has recently partnered with Barrick Gold for additional exploration licenses. “Our involvement in Reko Diq is a game-changer,” said Lak, adding that lithium exploration will be a future priority.
