{"id":48824,"date":"2024-09-16T23:59:11","date_gmt":"2024-09-16T18:59:11","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=48824"},"modified":"2024-09-16T23:59:11","modified_gmt":"2024-09-16T18:59:11","slug":"major-oil-gas-discovery-in-pakistan-faces-long-road-to-exploitation","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/major-oil-gas-discovery-in-pakistan-faces-long-road-to-exploitation\/","title":{"rendered":"Major oil &#038; gas discovery in Pakistan faces long road to exploitation"},"content":{"rendered":"<p>ISLAMABAD: A significant discovery of oil and gas reserves in Pakistan\u2019s territorial water could potentially transform the country\u2019s economic future.<\/p>\n<p>The reserves, reportedly among the largest globally, might replace <a href=\"https:\/\/dailyausaf.com\/en\/business\/pakistan-fails-to-secure-lng-cargoes-in-first-attempt-in-about-a-year\/\">LNG and imported oil<\/a>, potentially alleviating Pakistan\u2019s substantial energy import bill.<\/p>\n<p>However, experts caution that exploiting these resources will be a lengthy and costly process. Exploration along demands around $5 billion and could take up to five years, according to former<a href=\"https:\/\/dailyausaf.com\/en\/business\/imf-board-to-discuss-pakistans-7b-loan-programme-on-september-25\/\"> Oil and Gas Regulatory Authority<\/a> member Muhammad Arif. With Pakistan\u2019s energy import costs soaring to an anticipated $31 billion in seven years, the reserves present a crucial economic opportunity.<\/p>\n<p>Despite the promising news, international interest in Pakistani oil and gas exploration remains tepid. Security concerns in Pakistan highlight the security challenges, making state-owned or state-controlled Chinese firms the most likely investors. Discussions are ongoing with China, as other potential investors remain hesitant.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: A significant discovery of oil and gas reserves in Pakistan\u2019s territorial water could potentially transform the country\u2019s economic future. The reserves, reportedly among the largest globally, might replace LNG and imported oil, potentially alleviating Pakistan\u2019s substantial energy import bill. However, experts caution that exploiting these resources will be a lengthy and costly process. Exploration [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":11022,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1029,1028,21851],"class_list":["post-48824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-ogra","tag-oil-and-gas-regulatory-authority","tag-pakistan-oil-reserves"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/48824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=48824"}],"version-history":[{"count":1,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/48824\/revisions"}],"predecessor-version":[{"id":48825,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/48824\/revisions\/48825"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/11022"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=48824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=48824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=48824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}