Islamabad: Recent explorations have led to significant new discoveries of oil and gas in Pakistan, supported by initiatives from the Special Investment Facilitation Council (SIFC), marking a substantial boost in the country’s energy reserves.
According to Ministry of Information and Broadcasting, data from the Pakistan Petroleum Information Service shows a 26% increase in crude oil reserves and a 2% rise in gas reserves at the close of the last fiscal year. Specifically, oil reserves escalated to 243 million barrels in June from 193 million barrels in December of the previous year, while gas reserves grew from 18.10 trillion cubic feet to 18.47 trillion cubic feet.