Pakistan has oil reserves that could play a major role in its future energy needs. In Punjab, around 74 million barrels of proven reserves have been identified, while Balochistan holds a much smaller share of about 1.6 million barrels.
Right now, the country produces roughly 60,000 barrels of oil a day. That number is modest, but with new discoveries it has the potential to grow.
International studies point to something even bigger. The U.S. Energy Information Administration estimates Pakistan may be sitting on nearly 9 billion barrels of recoverable shale oil that remain untouched.
The challenge is that demand is climbing fast. By 2030, Pakistan’s oil needs are expected to rise from 2.2 billion barrels today to more than 3.3 billion barrels.
To keep up, the government has decided to expand exploration efforts with the help of global partners. If successful, these reserves could prove to be a real turning point for Pakistan’s economy.
