Pakistan Uncovers Massive Oil and Gas Reserves
Pakistan has made a groundbreaking discovery of large oil and gas deposits in its territorial waters. After a three-year survey, this revelation could drastically change the nation’s economic landscape.
Potential Economic Boost
A senior security official shared that these deposits hold immense potential to drive Pakistan’s economy forward. If tapped effectively, the reserves could position the country as a major player in the global energy market.
Building a ‘Blue Water Economy’
The discovery lays the foundation for a ‘blue water economy.’ Officials have already mapped the locations of the deposits and shared the findings with the government. Though promising, the project is in its early stages, and extracting these resources will take time.
A Long Road Ahead
While this discovery holds promise, officials caution that it will take years to develop. The process of digging wells and beginning extraction requires significant labor and financial investment.
Global Impact and Comparisons
Pakistan’s reserves are believed to be among the world’s largest. This could potentially make Pakistan the fourth-largest holder of oil deposits, behind global giants like Venezuela, Saudi Arabia, and Iran.
MUST READ : PoK : Rajnath Singh Urges PoK Residents to Join India, Promises Development in J&K
Strategic Importance
Muhammad Arif, a former member of Pakistan’s Oil and Gas Regulatory Authority (OGRA), emphasized the importance of careful exploration. He noted that if the reserves contain gas, Pakistan could reduce its dependence on LNG imports. If it’s oil, it could lessen the country’s reliance on imported petroleum. However, Arif warned that the reserves might not be as easy to extract as initially thought.
Pakistan will need an estimated $5 billion to fully explore and develop these deposits. While the journey is just beginning, the discovery brings hope of an economically prosperous future.
ALSO READ : The Surprising Reason Why India and Pakistan Celebrate Independence Day on Different Dates
