Islamabad, Sep 10: In a major development for Pakistan’s energy sector, top security officials have revealed the identification of the world’s fourth-largest Pakistan oil gas reserves in the seas off the coast of Pakistan.
The officials said the discovery, which has the potential to transform the country’s economy, was confirmed following the completion of an extensive geographic survey that took more than three years to conduct in collaboration with a friendly country.
The officials confirmed that not only have the locations of these Pakistan oil gas reserves been identified, but estimates of the reserves have also been made.
Experts believe that this discovery has the potential to drastically improve Pakistan’s situation and its economic future. But they also warn that there are a lot of ifs and buts at every step of the procedure. It was noted that if such substantial resources were found alongside a friendly nation, they could also be harvested.
But economists warn that depending on the size and accessibility of the deposit region, it may take some years to put these reserves into production. The discovery of even one large-production, large-size discovery might turn Pakistan’s fortunes around and let it to pay off all of its foreign debt.
Although the likelihood is high, there is no assurance that deposits will be located where they are found; nonetheless, experts suggest that the odds of finding are boosted if there is high-quality data.
It takes four to five years to integrate a reservoir into the system, even in the event of an offshore discovery. Large infrastructure investments are required for the process, which includes building gas processing facilities, pipelines, and production platforms.
Experts concur that the disclosure of a discovery of this magnitude might drastically alter Pakistan’s economic dynamics if the deposits are effectively extracted.
