Pakistan strikes another JACKPOT? Discovers THIS precious resource in…, its worth Rs…, not gold, silver or…
Pakistan gas reserves: Pakistan has reportedly discovered large reserves of oil and natural gas in the country’s northwestern parts, days after the cash-strapped nation announced that it had discovered a massive cache of antimony– a rare earth metal used in alloys, flame retardants, and various industrial applications– in conflict-torn Balochistan.
According to Pakistani media reports, Mari Energies Limited, formerly known as Mari Petroleum Company Limited, one of Pakistan’s largest energy companies, said it has discovered three new oil and gas reserves in the last two months, and the sites are already producing crude oil and natural gas.
The Islamabad-based firm, which manages and operates the Mari Gas Field– Pakistan’s largest gas reserve– said the newly discovered reserves already churn out around 20 million cubic feet of natural gas and 122 barrels of crude oil per day, and efforts are on to ramp up the capacity to help meet the country’s energy needs.
“The near-term gain is stability in domestic supply, but if handled prudently, it could draw international investors to tap Pakistan’s underutilised energy potential,” Geo News quoted an expert as saying.
However, experts have stressed the need for an effective public-private partnership in order for the breakthrough discoveries to be exploited to their full potential. “This could be the turning point. But turning reserves into sustainable growth will take prudent regulatory oversight and investment in infrastructure,” an energy policy expert was quoted as saying.
Notably, the development comes days after Pakistan’s state-owned Oil and Gas Development Company Limited (OGDCL), and Pakistan Mineral Development Corporation (PMDC)– a semi-autonomous corporation attached to the country’s Ministry of Petroleum and Natural Resources– discovered large deposits of antimony in Balochistan, and launched a 50-50 percent joint venture to extract the rare metal.
Additionally, Pakistan has also reportedly found gold, copper, nickel and cobalt reserves in Gilgit-Baltistan, according to Pakistani media reports.
At least ten mineral blocks have been discovered in Gilgit-Baltistan, where the presence of gold, copper, nickel and cobalt was confirmed during a state-funded survey. The reports further revealed that Pakistan is exploring potential mineral resources in Chiniot in Punjab province, as per reports.
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