Pakistan has used up 79.8% of its oil reserves and 66.6% of its gas reserves, making the future of its energy supply look dismal.
Pakistan has used 985 million barrels, or 79.8%, of its 1,234 million barrels of oil reserves, according to a report the Petroleum Division filed to the Auditor General of Pakistan (AGP). Currently, there are around 249 million barrels of reserves left.
According to the Petroleum Division, Balochistan has 1.84 million barrels of recoverable oil reserves, 0.24 million of which have been used, leaving 1.60 million barrels. 170.59 million barrels of the 264.83 million barrels of recoverable reserves that Khyber-Pakhtunkhwa (K-P) had were used. There are now only 94.24 million barrels available. 457.43 million barrels of Punjabs initially recoverable reserves were used up, leaving 74.23 million barrels untapped. Of those, 383.20 million barrels have been used.
From the projected 509.58 million barrels of recoverable reserves in Sindh, the province has used 430.60 million, leaving 78.98 million barrels.
Compared to the aim of 30 million barrels, Pakistan’s oil output was 27 million barrels in the fiscal year 202021, or 90% of the target.
Pakistan has been a significant gas producer compared to oil to suit local demand. The nation was formerly self-sufficient, but since 2015, due to the introduction of gas supply plans motivated by political reasons, it has started importing liquefied natural gas (LNG). According to the Petroleum Division’s report, Pakistan has used up 66.6% of the entire gas reserves, leaving 33.4% of the reserves untapped.
Since 2000, exploration and production (E&P) firms have not been able to increase gas output and have made few significant finds. Natural gas reserves in Pakistan were around 63 trillion cubic feet (tcf), of which only 42 tcf have been used. The Planning Commission reported that compared to the aim of 1.43 tcf, gas output was at 1.27 tcf annually.
According to provincial data, Balochistan has recoverable reserves of 20.637 tcf, of which 15.182 tcf