The media have reported, quoting senior security officials of Pakistan, that the country has succeeded in discovering huge reserves of oil and gas in its waters.
Publish dateSunday 8 September 2024 - 09:54
Story Code : 296489
Afghan Voice Agency (AVA): Pakistan's Dawn news channel quoted this senior security official who is aware of the findings of Islamabad's energy experts regarding the presence of large oil and gas reserves in the country's waters, said that the complex process of investigation and feasibility of Pakistan It ended with a friendly country after three years and the final findings indicate the existence of these large reserves in Pakistan's territorial waters.
The report states that some estimates indicate that this discovery is the fourth largest oil and gas reserves in the world.
Mohammad Aref, a former member of the Pakistan Oil and Gas Regulatory Organization, while commenting on the discovery of possible oil reserves in this country, said: Although we should be optimistic, there is no 100% certainty that the reserves have been discovered in accordance with the country's expectations.
In response to the question, whether these reserves are enough to supply Pakistan's energy needs or not? It depends on the size and extent of production recovery, he said. If it is a gas reserve, it can replace LNG imports, and if it is an oil reserve, it can replace imported oil.
The former Pakistani official noted that exploration alone would require a huge investment of around five billion dollars, and extracting reserves from an offshore location could take four to five years.
Pakistan is always facing an energy crisis, and with the arrival of summer and the increase in temperature, the supply of fuel, including gas, to industrial centers for the production of electricity decreases, the concerns about this issue increase. This country supplies about 15 to 20 percent of its energy needs through exploration and production of domestic gas and oil and the rest through imports.
The then Prime Minister of Pakistan in May 2018, while expressing hope that his country will not need to import oil, announced the discovery of new oil and gas reserves during new drilling by foreign companies in the coastal waters of Karachi. However, a few days after his statement, the government of Pakistan announced that the drilling on the Karachi coast had not reached anywhere and the Pakistani side's budget of 100 million dollars for the exploration of gas reserves was wasted, thus the dream of the Pakistani people to receive gas could not become a reality.
This is while Pakistan, after a 9-year hiatus, started drilling again to discover gas and oil reserves in deep waters at a cost of approximately 100 million dollars. In the same year, a senior Pakistani official announced that the country's gas reserves were estimated at 9 trillion cubic feet.
The report states that some estimates indicate that this discovery is the fourth largest oil and gas reserves in the world.
Mohammad Aref, a former member of the Pakistan Oil and Gas Regulatory Organization, while commenting on the discovery of possible oil reserves in this country, said: Although we should be optimistic, there is no 100% certainty that the reserves have been discovered in accordance with the country's expectations.
In response to the question, whether these reserves are enough to supply Pakistan's energy needs or not? It depends on the size and extent of production recovery, he said. If it is a gas reserve, it can replace LNG imports, and if it is an oil reserve, it can replace imported oil.
The former Pakistani official noted that exploration alone would require a huge investment of around five billion dollars, and extracting reserves from an offshore location could take four to five years.
Pakistan is always facing an energy crisis, and with the arrival of summer and the increase in temperature, the supply of fuel, including gas, to industrial centers for the production of electricity decreases, the concerns about this issue increase. This country supplies about 15 to 20 percent of its energy needs through exploration and production of domestic gas and oil and the rest through imports.
The then Prime Minister of Pakistan in May 2018, while expressing hope that his country will not need to import oil, announced the discovery of new oil and gas reserves during new drilling by foreign companies in the coastal waters of Karachi. However, a few days after his statement, the government of Pakistan announced that the drilling on the Karachi coast had not reached anywhere and the Pakistani side's budget of 100 million dollars for the exploration of gas reserves was wasted, thus the dream of the Pakistani people to receive gas could not become a reality.
This is while Pakistan, after a 9-year hiatus, started drilling again to discover gas and oil reserves in deep waters at a cost of approximately 100 million dollars. In the same year, a senior Pakistani official announced that the country's gas reserves were estimated at 9 trillion cubic feet.
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