Huge reserves of oil and gas found in Pakistan’s waters
Last Updated on September 9, 2024 10:12 am
Huge reserves of oil and natural gas have been found in Pakistan’s territorial waters. It is expected to change the fate of the country which is in financial crisis.
On Saturday (September 7), the country’s media The Dawn reported this information about a senior security official in Pakistan.
The official said that the stockpile was found in the waters after a three-year survey with the cooperation of a friendly country. Apart from this, the Geographical Survey Authority of Pakistan has also helped in locating this huge stockpile.
Referring to this effort as an initiative to benefit from the Sunil economy, he said, the tender and exploration proposals are being reviewed. The search may begin soon.
But he also said that drilling wells and extracting oil could take years.
Pakistani officials believe that more than just oil and gas can be obtained from the Sunil economy. They say, many more valuable minerals and materials can be extracted from the sea. The official said that the economic condition of the country can be changed if the initiative is taken quickly and done properly.
According to some estimates, this discovery could be the fourth largest oil and gas reserve in the world. Currently, Venezuela has the highest oil reserves. The country has about 3.4 billion barrels of oil reserves. The United States has the largest reserves of crude shale oil. Saudi Arabia, Iran, Canada and Iraq fill out the rest of the top five.