Pakistan witnessed 26 percent increase in crude oil reserves till December 2024, reported 24NewsHD TV channel on Friday.
According to a report, Pakistan recorded an increase of 26 percent in crude oil reserves till December 2024 as compared to the same period of 2023.
Currently Pakistan is getting 23,80,00,000 barrel crude oil per day after new discovery and enhancement in production capacity.
The report further revealed that Pasakhi North East, Rajan, Kunar and Sono Field reserves posted growth while on the other hand some decrease was also recorded from different fields which also includes Nashapa, Adhi, Bethani, Makohri and Shehzadpur fields.
During the month of December, 2024, the overall gas production was recorded at 18,142 billion cubic feet.
The report further stated that in December 2023 gas production was recorded 18,108 billion cubic feet.
As per report, new discovery of oil and gas played major role for maintaining satisfactory reserves and also help strengthening gas reserves.
Isra, Mahan, Taj South, Baloch 2, Shawa and Toot Deep Gas field enhanced crude oil production to 6.73 million barrel.
New gas and oil reserves were discovered from Shahu, Mahan, Sonhal, Isra, Akhra, Shewa, Bloch 2 and Dhodak deep.
It is necessary to mention here that all those companies who are listed in Pakistan Stock Exchange (PSX) also showed increase.
During one year 76 percent increase was witnessed in oil reserves of Oil and Gas Development Corporation (OGDCL).
Mari Energies posted 77 percent increase in crude oil reserves. POL registered 28 percent rise.
The report stated that Pakistan Petroleum Limited (PPL) registered 16 percent decrease in crude oil reserves.
Mari Gas and POL also posted 17 percent decrease in gas reserves.
During one year OGDCL recorded 8 percent while PPL showed 9 percent decrease in gas reserves.
Reporter: Ashraf Khan