A senior officials privy to the Petroleum feared that Pakistan’s hydrocarbon reservoirs are to be depleted by 60pc by 2027, quoting a recent study on Tuesday.
According to the reports of Baaghitv, a Petroleum official said, the country’s reserves are decreasing by each passing day and there is a dire need to explore additional resources as the burgeoning population demands more energy and the hydrocarbon reservoirs are a source of energy for the nation.
The Petroleum division is planning to open bidding for 20 more oil and gas exploration blocks by the end of this year, to make country self-sufficient in the energy sector.
The country is currently divided into four zones, comprising West Balochistan-Pishin-Potowar Basins; Kirthar, East Balochistan-Punjab platform-Suleman Basins; Lower Indus Basins; and Indus & Makran Basins for the exploration of reserves. Now, the Petroleum division is planning to provide license to other companies for exploration in these zones and others as well..
He added, the country’s total sedimentary area is around 827,268 square kilometres, out of which 320,741km or 39pc of the area is under exploration. He further said, “It is a fact that multinational companies are least interested in Pakistan’s oil and gas exploration sector owing to the non-discovery of any major hydrocarbon reserve since long. However, the country has sufficient potential in different sedimentary pockets, but it needs a robust exploration strategy.”