Pakistan on Verge of Discovering Largest Ever Oil & Gas Reserves in History

Pakistan is about to discover the largest ever gas and oil reserves in its history.

Reportedly, these reserves will be enough to meet the oil requirements of the next 50 years. As per the details, the US oil and gas giant, ExxonMobil, was expected to begin the drilling today to find the oil and gas reserves in the territorial waters of Pakistan.

The said vessel has been anchored into Pakistan’s aquatic territory to discover the reserves. Moreover, the company will anchor three additional ships to assist the drilling.

Notably, a survey predicted the discovery of large oil and gas reserves in the country. As for ExxonMobil, the company had reentered Pakistan after 27 years in November 2018.


Pakistan is on the Verge of Becoming One of the Top 10 Oil Producing Countries in the World

It also acquired a 25 percent stake in offshore drilling in May, last year. Other shareholders in the offshore drilling include previously Italian energy giant Eni, Pakistan Petroleum Limited (PPL), and Oil and Gas Development Company (OGDC), each holding 33 percent share in the drilling.

The company has also planned to build Pakistan’s third import Liquefied Natural Gas (LNG) terminal in partnership with Pakistani consortium Energas.

Currently, Pakistan’s annual oil imports amount to $14 billion. If the country gets to have its large oil and gas reserves, it will alleviate its economy drastically.

Via: TOI

  • As a geologist, i would say this article is illogical. You guys really know nothing. Drilling for hydrocarbon is another thing but finding a reserve is always uncertain that’s why investment in petroleum sector is always risky.
    This is first ever offshore drilling so it’s a big milestone. If this operation becomes successful, it’ll open a new ways for HC exploration to meet our needs

    • Sir Pakistanion ko choona laga rahi hai government. Everyday so many fake news are coming especially from PTI channels. They are discovering so many things. You are absolutely right that exploration cannot guarantee the discoveries. But in pakistan sub kuch bikta hai.

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