Karachi: OGDC has commenced commercial production at the Bobi Deep-1 well located in the Bobi and Dhamraki Mining Lease, Sindh. The well is currently producing 2,000 barrels per day, marking a significant step in OGDC's exploration efforts in the region.

According to AKD Securities Limited, OGDC has completed the installation of a 4-inch, 1.5 km flowline connecting the well site to the existing Bobi Plant. This development occurred within a short period following the initial announcement earlier this month. The discovery is projected to contribute annualized earnings of approximately PkR1.19 per share to OGDC's fiscal year 2027 estimated earnings per share.

The report reiterates a 'BUY' stance on OGDC with a target price of PkR522 per share by December 2026. The Bobi Deep-1 well is among the recent exploration successes for OGDC, alongside Baragzai X-1, Sahito-1, and Bitrism East-1, underscoring the company's ongoing exploration and development activities as it moves toward fiscal year 2027.