Pakistan is on the Verge of Becoming One of the Top 10 Oil Producing Countries in the World

[Baghial]

Pakistan is on the Verge of Becoming One of the Top 10 Oil Producing Countries in the World
Posted 36 mins ago by ProPK Staff

ENERGY

Will this solve Pakistan’s economic crisis once and for all? Time will tell.

• Pakistan Oilfields Limited Discovers Oil and Gas in Attock District
  
  ExxonMobil has currently drilled up to 5000 meters near the Iranian border and is thoroughly optimistic about the oil reserve discovery.
  
  Top 10 Oil Producers in The World
  If the reserves do turn out to be as massive as expected, it will put Pakistan among the top 10 oil producing countries, at the 6th position above Kuwait.
  
  Currently, Kuwait possesses 8.4% of the world’s oil reserves and claims that they have nearly 101.5 billion barrels of crude oil. The country also owns 2.5 billion barrels in the Saudi-Kuwaiti neutral zone.
  
  Govt’s Stance
  Mr. Hussain said that the government has already forged an agreement with ExxonMobil for a $10 billion “generation complex”. He said,
  
  They are also putting up an LNG berth at Port Qasim, the second seaport in Karachi. They have already paid for the drilling rights in Pakistan. Pakistan is providing a level playing field to foreign investors and they are interested in coming to Pakistan. What we need to do is to meet their standards and attract them to make investment.
  
  ExxonMobil made the headlines earlier in May 2018, when the company acquired a 25% stake in offshore drilling in Pakistan. The agreement was inked at Prime Minister’s Secretariat between Oil and Gas Development Corporation, Government Holding Private Limited PPL and Eni.
  
  Could Substantially Reduce Our Import Bill
  It should be noted that most of Pakistan’s import bill is based on oil imports. The country only manages to meet 15% of its demand through locally produced crude oil, which is around 22 million tons, while the other 85% is imported.
  
  Current account deficit for Pakistan stands at $18 billion. Pakistan’s imports stood at $12.928 billion in the July-May 2017-18 period for the last fiscal year.
  
  This discovery alone has the potential to solve one of the biggest problems Pakistan currently faces.
  
  We’ll have to wait and see if ExxonMobil’s prediction actually pans out.
  
  Via ArabNews

same fate like when we found gold at rekodiq in balauchistan...........

only foriegn companies and our commission agents make money from these projects..

no wonder 200 billions dollars are swindled from pakistan and sitting in swiss banks,,

we are near 100 billions national debt------------- while only nuclear nation which is certified a begger--
we are running around to beg 10-12 billions urgently....

when do we start colonising some countries arounds us , starting with the the rats on the other side of torkhum border......give them some live sample,s of n- bombs..

 

[aman_rai0007]

Lol... If it's true then USA will try to find another Saddam Hussein in Pakistan...

Lol... If it's true then USA will try to find another Saddam Hussein in Pakistan...

Lol... If it's true then USA will try to find another Saddam Hussein in Pakistan...

 

[Hakikat ve Hikmet]

Elhamdulillah!!!! Allah-u Azimushshan is Al-Gani & Al-Razzak!!!!!

nice, but Pakistan need to be ready to defend the oil. Bcs .... freedom and democracy might come

Pak is Bahtiyar in that sense!!!! For some, oil was discovered too early; hence, they lost both Dunya and Ahiret!!!! As for Pak, it's priming at the right moment when she's carrying the staffs like the Trumpet of Hazret-i Israfil (AS) in her hands!!!!!!

 

[Pakistani Aircraft]

There must be some truth to it....Reports rarely surface without much background.

We know Balochistan is filled with minerals and other natural resources.

Lets find out what the largest province of Pakistan by area holds for us

If Balochistan can posses gas reserves like we know, then they can give us oil too....

Balochistan is barren. It has a desert and plenty of mountains. Nothing more.

Other provinces produce a lot more natural resources than Balochistan.

 

[PaklovesTurkiye]

Balochistan is barren. It has a desert and plenty of mountains. Nothing more.

Other provinces produce a lot more natural resources than Balochistan.

From where do you get gas? Balochistan

 

[denel]

this news has some meaningful background otherwise it would not be circulating in international media ... here are some links.
US energy giant ‘close to discover’ oil reserves bigger than Kuwait in Pakistan
The US-based energy giant ExxonMobil is close to discover huge oil reserves near the Pakistan-Iran border, which could be even bigger than the Kuwaiti reserves.

This was revealed by Abdullah Hussain Haroon, Pakistan’s caretaker minister for maritime affairs and foreign affairs, while addressing the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Friday.

ExxonMobil has so far drilled up to 5,000 meters close to the Iranian border and is optimistic about the oil discovery, Haroon claimed. If the oil deposits are discovered, Pakistan will become one of the top 10 oil-producing countries ahead of Kuwait, which sits at sixth position, quoted Arab News.

Kuwait’s oil reserves make up 8.4 percent of the oil reserves in the world. Kuwait claims to hold about 101.50 billion barrels, including half of five billion barrels in the Saudi-Kuwaiti neutral zone, which Kuwait shares with Saudi Arabia.

According to current estimates, 81.89 percent of the world’s proven oil reserves are located in Organization of the Petroleum Exporting Countries (OPEC) member countries, with the bulk of oil reserves in the Middle East, amounting to 65.36 percent of the OPEC total, latest OPEC data shows.

Hussain also informed that the government has already taken an undertaking from ExxonMobil to set up a generation complex worth $10 billion. “They are also putting up an LNG berth at Port Qasim, the second seaport in Karachi. They have already paid for the drilling rights in Pakistan,” Haroon added.

During Jul-Febuary 2017-18, the country imported 60.4 million barrels of crude oil, while it locally extracted 21.8 million barrels oil, reported Business Recorder. Indigenous crude oil meet only 15 percent of the country’s total requirements, while 85 percent requirements were met through imports in the shape of crude oil and refined petroleum products.
https://www.brecorder.com/2018/08/0...-oil-reserves-bigger-than-kuwait-in-pakistan/

American firm close to discover oil reserves in Pakistan
https://dailytimes.com.pk/278057/american-firm-close-to-discover-oil-reserves-in-pakistan/

Major oil discovery at Pak-Iran border
http://www.iranoilgas.com/news/details?id=19260&title=Major+oil+discovery+at+Pak-Iran+border

They have grammatic errors in writing and you call it news... wonderful.

'close to discover'..... 'close to discovering' - even i with a limited english know bad writing

 

[BRAVO_]

They have grammatic errors in writing and you call it news... wonderful.

'close to discover'..... 'close to discovering' - even i with a limited english know bad writing

did you got the point???? if yes .. then pointing finger towards non issues is useless

 

[denel]

did you got the point???? if yes .. then pointing finger towards non issues is useless

yup. mute point is correct but how many people take it as truth is astounding

 

[BRAVO_]

yup. mute point is correct but how many people take it as truth is astounding

only time will decide weather it is a truth or a lie .... lets keep our assumptions safe till the that time

 

[denel]

only time will decide weather it is a truth or a lie .... lets keep our assumptions safe till the that time

lets see; i hold my breath; have seen various such reports across in zambia etc but nothing came of it; the only one was big was off Mozambique but that is a long way away.

 

[Pakistani Aircraft]

From where do you get gas? Balochistan

Balochistan provides only 23% of Pakistan's gas.

www.pakistaneconomist.com/2018/01/22/oil-gas-future-balochistan-exploration-activities-required/

Balochi gas is more popular than other provinces because of it's politicisation.

 

[Turingsage]

I remember in the eighties and nineties when Pakistani newspapers and Pakistani politicians claiming greater oil and gas reserves than Iran and Saudi put together, In fact they claimed all Iranian Oil was coming from Pakistan and how Iran should be taken through International courts to reclaim these oil and gas revenues.
They then went into conspiracies for many years of the US Iran and others were stopping Pakistan from extracting this valuable resource to stop Pakistan from becoming worlds largest exporter of oil and gas.
This fiction went on for years and then petered out into thin air. The idea that Pakistan has greater reserves "undiscovered" than Kuwait is a story for truly deranged. Oil is discovered in 10's of thousands of places in the world. Usually in quantities that would make it uneconomic to extract or where extraction costs outweigh the revenues.
Whether it is HEC investigating how a brilliant Pakistani had found the magic method of running cars with water or the vast oil and gas reserves which disappear into thin air after a few months. International conspiracies, by oil companies to silence the brilliant Pakistani who could convert water to petroleum, will be used to explain all this away.

 

[Pakistani Aircraft]

I remember in the eighties and nineties when Pakistani newspapers and Pakistani politicians claiming greater oil and gas reserves than Iran and Saudi put together, In fact they claimed all Iranian Oil was coming from Pakistan and how Iran should be taken through International courts to reclaim these oil and gas revenues.
They then went into conspiracies for many years of the US Iran and others were stopping Pakistan from extracting this valuable resource to stop Pakistan from becoming worlds largest exporter of oil and gas.
This fiction went on for years and then petered out into thin air. The idea that Pakistan has greater reserves "undiscovered" than Kuwait is a story for truly deranged. Oil is discovered in 10's of thousands of places in the world. Usually in quantities that would make it uneconomic to extract or where extraction costs outweigh the revenues.
Whether it is HEC investigating how a brilliant Pakistani had found the magic method of running cars with water or the vast oil and gas reserves which disappear into thin air after a few months. International conspiracies, by oil companies to silence the brilliant Pakistani who could convert water to petroleum, will be used to explain all this away.

Spot on.