Geological survey identifies potential game-changer for Pakistan’s energy independence.
Pakistan has made a groundbreaking discovery of substantial oil and natural gas reserves within its territorial waters. Following a comprehensive three-year survey conducted in collaboration with an allied nation, this major find could reshape the country’s energy landscape.
A senior security official revealed that the survey successfully pinpointed the deposits, with relevant government departments already informed. The discovery is seen as a key move in tapping into the ‘blue water economy,’ and bidding for exploration rights is expected soon.
While the find offers immense promise, the official stressed that extracting these resources could take several years. Beyond oil and gas, there may be additional valuable minerals awaiting discovery in the ocean, adding further urgency to initiate exploration activities.
Global Significance
Preliminary estimates suggest the newly discovered reserves could be among the world’s largest, potentially placing Pakistan in the top four for oil and gas deposits. Currently, Venezuela holds the top spot for the largest known reserves, followed by Saudi Arabia, Iran, and Canada.
Industry Reactions and Challenges
Former Oil and Gas Regulatory Authority (OGRA) member Muhammad Arif expressed cautious optimism. While the discovery is encouraging, Arif noted that the size and recoverability of the reserves are yet to be confirmed. If proven viable, the gas reserves could reduce reliance on costly liquefied natural gas (LNG) imports, and domestic oil production could cut the need for imported fuel.
However, Arif warned that the exploration and extraction process could take four to five years and require significant investment—estimated at $5 billion. Additional funds would be needed to build infrastructure if the reserves prove to be as large as expected.
Until then, the nation will have to wait to see if this discovery will fulfill its potential to meet Pakistan’s growing energy demands.
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