Islamabad, Sep 7: A sizable deposit of natural gas and petroleum has been found within Pakistan’s territorial waters. Experts believe this might have a huge impact on the future of the nation’s economy.
A top security officer with knowledge of the issue claims that the discovery was verified after a cooperative three-year survey with a friendly country. Pakistan has disclosed these lucrative deposits to the government after using the survey to locate them. The representative said that although exploration is still in its early phases, bids for the reserves are now being considered.
If successful, Pakistan might be able to access resources related to the sea, such as oil, gas, and other minerals, which have been referred to as a part of the nation’s “blue economy.” Though the discovery is encouraging, it might take years to extract the gas and oil. Muhammad Arif, a former member of OGRA, emphasized that while this is a potential discovery, it is still “wishful thinking” until drilling is completed and the reserves are actually examined.
He emphasized that a mere five billion dollars must be invested in exploration, and any possible extraction may take up to five years.If the reserves are large, they may provide long-term economic relief by lowering Pakistan’s dependency on LNG and oil imports. Though there is a lot of promise, the official cautioned that seizing this opportunity requires quick action.
