Pakistan oil, gas reserves to end in 15 years

KARACHI: Pakistan’s oil and gas reserves have depleted by 17% and 6%, respectively, in the past one year till June 2023 as no major hydrocarbon discovery has been made since long.

It signals that leftover deposits will be fully consumed in the next 15 years, according to a research house that cited data from the Pakistan Petroleum Information Services (PPIS).

In a report on oil and gas exploration, Arif Habib Limited analyst Muhammad Iqbal Jawaid said that Pakistan’s crude oil reserves contracted by 17% to 193 million barrels in June 2023 compared to 233 million barrels in the same month of last year.

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