Pakistan’s Oil and Gas Reserves to end after 10 years
It is expected that during the next 10 years ,Pakistan will be short of oil ,if gas and oil are being used up at the current pace.Gas reserves are also expected to deplete during the next 13 years.
This upcoming problem were shared with the Senate Standing Committee on petrol recently at the petroleum division by officials.The meeting was attended by several senators including officials from SNGPL, PSO and SSGCL.
The secretary of petroleum about the present state of Pakistan’s oil and gas reserve ,informed the Senate Standing Committee .
Pakistan has total 1197 million barrel of oil reserves .Out of 1197 million barrel of oil reserves have been used while 332 million barrel of oil remain as reserves .This remaining barrel of oil will be able to meet needs of next 10 years only.
About Gas: Total discovered gas is 57 trillion cubic feet .out of this total ,36 trillion cubic feet has been extracted.The remaining 21 trillion cubic feet will be able to meet demand for next 13 years.
The demand for gas in 2018 is about 1000 million cubic feet per day.It is expected to go up to 3,600 by 2030. 26.4 million tonnes of petroleum product used in 2016-2017.About 85% of it being imported.
About this collection of gas and oil ,the senate Committee didn’t sound happy and needed further details on the LGN agreement with Qatar.