Huge Petroleum and Gas Reserves Found in Pakistan’s Waters: Report

A significant deposit of petroleum and natural gas has been discovered within Pakistan’s territorial waters, according to a report from Dawn, with experts suggesting it could drastically alter the country’s economic future. According to a senior security official familiar with the development, the discovery was confirmed following a three-year collaborative survey with a friendly nation. The survey enabled Pakistan to locate these valuable deposits, which have been reported to the government. The official indicated that while exploration is still in its early stages, the proposals for bidding on the reserves are being evaluated. If successful, Pakistan could tap into what has been described as part of the country’s “blue economy” — resources tied to the sea, including oil, gas, and other minerals. However, while the discovery brings hope, extracting the oil and gas may take years. Former OGRA member Muhammad Arif highlighted that, though this is a promising find, it remains “wishful thinking” until the drilling process begins and the actual reserves are analyzed. He pointed out that even exploration alone requires a $5 billion investment and any potential extraction could take four to five years. If the reserves are substantial, they could significantly reduce Pakistan’s reliance on LNG and oil imports, offering long-term economic relief. However, the official warned that while the potential is high, acting swiftly is crucial to realizing this opportunity.