“I’ve shot 62 maybe four times before but this was definitely my lowest and I think it might be very hard to beat,” said McKibbin.
He began with a birdie on the second hole, then carded an eagle on the third, before further birdies at the eighth, 10th 12th and 13th.
Belfast-born McKibbin, who made the switch to LIV Golf for the 2025 season, then started a run of three consecutive birdies on the 15th and finished bogey-free at 10 under par to lead Thailand’s Jazz Janewattananond – who carded 61 – by a shot.
Fellow NI golfer Graeme McDowell is 87th after a disappointing one-under-par 69.
The winner of the event will qualify for the 2026 Masters, while the highest-placed non-exempt player who makes the cut will earn a place in the field for the 154th Open at Royal Birkdale in July.
