Poor Pakistan will become rich
PTI, Islamabad. The fortunes of impoverished Pakistan may soon change. A large reserve of petroleum and natural gas has been found in its maritime border, which is so large that extracting it will change the fortunes of Pakistan. Dawn News TV quoted a senior security official on Friday as saying that a three-year survey was conducted in collaboration with a friendly country to verify the presence of oil and gas reserves in Pakistan.
Oil and gas reserves have been found in Pakistan
It is said that through geographical surveys, Pakistan has identified the location of oil and gas reserves. The concerned departments of Pakistan have informed the government about the discovery of petroleum and natural gas reserves. However, officials have also said that digging wells and actually extracting oil may take several years. When the official was asked whether these reserves are sufficient to meet the country’s energy needs, he said that it depends on the size of production and the recovery rate.
Pakistan will have to spend a lot of money
The official further said that if the exploration results in the discovery of reserves, further investments would be required to prepare wells and infrastructure to extract the reserves and produce the fuel, Dawn reported.
The official further said that if it is a gas reserve, it can replace LNG imports and if it is an oil reserve, we can replace imported oil.” However, he cautioned that it is just wishful thinking until the prospects of the reserves are analysed and the drilling process begins. The official also said that a huge investment of about US$5 billion is required to explore and extract it and it may take four to five years to extract oil and gas from this reserve.
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