A large deposit of petroleum and natural gas has been found in Pakistan’s waters, which could boost the country’s economy. However, former Ogra member Muhammad Arif advises caution, as more analysis and drilling are needed before confirming the discovery.
Early estimates suggest it could be one of the world’s biggest deposits, but extracting it may take 4-5 years and cost $5 billion. If successful, Pakistan could reduce its reliance on imported LNG and oil.
The discovery followed a three-year survey, and bids for extraction are under review, but experts stress that further studies are crucial before proceeding.