‘Pakistan’s reserves more than all Central Asian states’

Published: November 26, 2015
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Petroleum ministry adviser says country needs to tap potential. PHOTO: REUTERS

Petroleum ministry adviser says country needs to tap potential. PHOTO: REUTERS

ISLAMABAD: Pakistan’s shale gas and oil reserves are more than the combined reserves of Central Asian States put together, claimed Petroleum Ministry Adviser Zahid Muzaffar during the 22nd Annual Technical Conference (ATC).

“Gas supply stands at 3.95 billion cubic feet in the on-going year against demand for 6.45 bcfd,” said Muzaffar. “Production is estimated to drop by 2.61 bcfd by 2028 if the potential of gas is not explored,” he added while addressing the conference that ended on Wednesday, with commitments from oil and gas exploration companies to tap the huge potential of oil and gas in Pakistan.

Pakistan has 10,159 tcf of shale gas deposits: USAID

While elaborating the efforts of the government to increase domestic production of oil from 65,000 barrels to 100,000 barrels per day, he said authorities had expanded the exploration area in all provinces and licences have been awarded to different companies.

Meanwhile, Minister of State for Petroleum and Natural Resources Jam Kamal Khan said Pakistan had potential to grow as an energy sufficient country, provided there is an investment-friendly policy and maintenance of law and order.  “Our government is committed to speeding up the exploration efforts across the country and we are moving in the right direction.”

Oil and gas reserves discovered in Punjab

Earlier, Minister of Petroleum and Natural Resources Shahid Khaqan Abbasi had remarked in his address that Pakistan had one of the largest shale gas and oil reserves, and recent comprehensive studies had indicated the potential to be larger than originally envisaged. He also said that a petroleum policy with a lucrative pricing regime had been fully implemented and additional incentives were being provided to E&P companies.

Published in The Express Tribune, November 26th, 2015.

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Reader Comments (42)

  • Ali
    Nov 26, 2015 - 8:43AM

    That’s why we stand in long ques for CNG….!Recommend

  • FAZ
    Nov 26, 2015 - 9:29AM

    Nikalay ga kaun?? Tell this too to the nation already deprived of water (which is a big requirement for extraction of shale gas)Recommend

  • Anoni
    Nov 26, 2015 - 9:40AM

    really

    ….

    this mean we have the most corrupted lot on the highest functionary position since we haven’t been able to turn things around even with blessed potential that very few countries have. Recommend

  • Munir Ahmed
    Nov 26, 2015 - 9:55AM

    The advisor needs to check with Saudis if he was allowed to even talk about shale gas….. these reserves mean independent Pakistan ! Recommend

  • John B
    Nov 26, 2015 - 10:40AM

    More than all of Central Asia ? I doubt it, and the geology does not permit it.Recommend

  • Aman
    Nov 26, 2015 - 10:54AM

    @Munir Ahmed:
    FYI US & Canada already using there shale reserve !Recommend

  • asad rizvi
    Nov 26, 2015 - 10:57AM

    Interestingly, Petroleum Ministry Adviser did not tell the audience how much it would cost to produce shale gas. Rough estimate suggest that it would cost nearly 5 time higher than production by conventional means. One estimate suggest that it will cost almost $15 per million British thermal units, which is a very high price.

    Similarly, since nearly a decade nation is fooled by our various leadership about the prospect of Thar Coal Reserves story that it can produce 50,000 MW of energy.

    The real problem is that our leaders do not have the vision and urge for economic well being of Pakistan. They are least interested about real economic growth and well being of people. Recommend

  • Qais
    Nov 26, 2015 - 11:38AM

    not to mention the all polluted water runoff.Recommend

  • Naveed
    Nov 26, 2015 - 11:44AM

    Wow…another fantasy! What about tons of gold, copper we discovered few months backRecommend

  • Rizwan
    Nov 26, 2015 - 12:05PM

    The only region in the world where shale gas has been successfully exploited is North America. No one else – not the Europeans, not the Gulf States, not China, no one – has been able to exploit their shale reserves in commercial quantities and in an economically viable way. North America has the technology, the drilling know-how (critically important), the regulatory framework, and the water to get hydrocarbons from shale economically. So just having shale reserves means zilch. Recommend

  • Xnain
    Nov 26, 2015 - 12:14PM

    But what is the extraction cost of these reserves? Afghanistan has minerals worth 250 Billion $ in bordering region with Pakistan but the extraction cost is well above the value of minerals. Recommend

  • `Shahid
    Nov 26, 2015 - 12:34PM

    Don’t believe them.Recall about a year ago the PM and his younger brother were upbeat about discovery of gold, oil and what not in Chiniot. Even they were discussing with some Chinese about the setting up of a steel mill of 30 million ton using the discovered material. What happened to all these tall claims. if we have deposits anything close to what our minister is announcing, than what is the requirement for importing LNG from all over the world and laying pipe lines from north to south and east to west. In my opinion, this government is being run by immature and incompetent individuals. their decision making is like a king sitting in a Darbar and issuing orders for construction of motorways like projects where while travelling on them, you may hardly see any vehicle following you for quite a distance. Can somebody stop this government to stop misleading this poor nation from day dreaming. Please invest where it is more beneficial for greater benefit of the people at large. God save our country.Recommend

  • usman786
    Nov 26, 2015 - 12:37PM

    @Aman: donot u know Pak cannot explore oil in Balochistan without Iran s permission. Hope we will have no load shedding this winterRecommend

  • Furqan Khattak
    Nov 26, 2015 - 12:43PM

    With all due respect how much you are sincere with the rest of country except Punjab. Karak block recently have many discoveries but Federal government is not issuing them the contract. You also have information that NW have much capacity in this regard but you are turning your eyes blinds. You don’t have even a refinery, you are trying to put embargoes to Refiner project in Karak and Kohat as its location is in KP. All you doing and your government is trying to divert the monopolies to Punjab only. At NASPA the trucks are waiting full of petrol because Attock have no capacity for refinery. You are simply a threat to Federation nothing else. Try to rationalize your vision otherwise nothing will be out there for Pakistan. Recommend

  • Parvez
    Nov 26, 2015 - 12:52PM

    ‘ Shale ‘ is the flavor of the month……our politicians have just realized that there’s a lot of money involved in the expensive extraction process.Recommend

  • JS
    Nov 26, 2015 - 12:56PM

    …just like Thar Coal huh?1? remember those claims that Thar had enough could to power us for the next 23,000 years?1?Recommend

  • dfdf
    Nov 26, 2015 - 1:26PM

    All is loan moneyRecommend

  • Mohammad
    Nov 26, 2015 - 1:39PM

    so can we stop wasting money on Gas Pipeline with Iran.?Recommend

  • lashkari
    Nov 26, 2015 - 1:53PM

    Cost-of-production is going to be through the roof, understand that there is no way on God’s earth that it can be paid for through state-guarantees. …yes, there is a strategic-requirement and while globally, there will be a demand for plastics, the future demand for liquids is more uncertain. Pakistan does not need to provision for this now. Water, Education, Agriculture and just general maintenance deserve modernization. Recommend

  • heed
    Nov 26, 2015 - 2:03PM

    Congrats..Pakistan…
    Sell it, make money and make more nuclear bombs.
    All the best.Recommend

  • Walsh
    Nov 26, 2015 - 2:27PM

    Guys read the full article, its ‘claimed’ to be honest I really don`t trust my ministers unless they have some credible source to back it up. Though the claims by the USAID comes as a silver lining. The country needs good sincere leadership and tough laws (esp their implementation, in case of sexual abuse most cases are shrugged off because of lack of evidence, the same goes for most of the other crimes committed, there is a lack of trust on police and judiciary by the general public). I still believe that gov has a lot of space to improve its performing. Recommend

  • Raisani
    Nov 26, 2015 - 3:52PM

    “Pakistan’s shale gas and oil reserves are more than the combined reserves of Central Asian States put together”
    and still we are depending on IMF & World Bank. What an irony. Recommend

  • Syed
    Nov 26, 2015 - 4:02PM

    Thats the reason why we see so much instability in Pakistan. Sponsored by other countries. They don’t want an Islamic state to flourish on the world map.Recommend

  • Aman
    Nov 26, 2015 - 4:22PM

    @usman786:

    Pakistan aiming at shale oil reserve yet can’t drill offshore !!! isn’t it ironic ?Recommend

  • IBN E ASHFAQUE
    Nov 26, 2015 - 5:49PM

    @`Shahid: All PML (N) projects meet the fate of Nandipur…………Recommend

  • curious2
    Nov 26, 2015 - 6:05PM

    Akin to Thar Coal … large quantities doesn’t necessarily mean it’s economical. Most of Thar Coal is underwater making it uneconomical to mine … most of the Shale gas is located where water is in short supply making it difficult/uneconomical to access. If Pakistan is to resolve it’s energy issues it needs to be realistic and focused on viable solutions.Recommend

  • HG
    Nov 26, 2015 - 6:27PM

    No need Shale gas when have water kit approved by A Q Khan.
    Recommend

  • Yamuri
    Nov 26, 2015 - 8:00PM

    I hope it is true. But I know for fact that the PMLN government has been misleading nation and boldly lying to the nation about national statistics in any domain. They cant be trusted!! People need to wake up once.Recommend

  • HZR
    Nov 26, 2015 - 10:50PM

    Good news but where are the customers when oil is likely to hit$20 a barrel and where is the money to develop this.Where is the technology?Recommend

  • Pakistani Sindhi
    Nov 26, 2015 - 11:12PM

    In Pakistan, only Sindh has huge gas and oil reserves (including the KPK province). Recommend

  • al
    Nov 27, 2015 - 12:49AM

    No DUMB comment by N-LEAGUE..all in dreams..Recommend

  • Naresh
    Nov 27, 2015 - 3:25AM

    Pakistan’s reserves more than all Central Asian states’ : – This is fantastic news. Now India can Import Natural Gas and Gas from Shale from neighbouring Pakistan so that cost of Transport will be less than One-Third that from Iran or Turkmenistan or other CARs.Recommend

  • Salim Khan
    Nov 27, 2015 - 5:21AM

    Every country in the world has such Shell gas fond in Pakistan. But no one except USA has Shell gas technology to remove the petrol from such deep depths. The prices of petrol has come down because US companies have flooded the market with the Shell gas. Also the Indian company Reliance owned by Ambanis which owns one of the biggest refineries in the world, have invested heavily in this area in USA.Recommend

  • Mrs HighBall
    Nov 27, 2015 - 5:28AM

    As they say, the only guaranteed things in life are death and taxes (perhaps the latter out of context for most Pakistanis) but shale sure ain’t one of ’em !Recommend

  • citizen26
    Nov 27, 2015 - 5:49AM

    Pak is in south asia not central asia. Hence this news is worthless. BTW Pak also need to understand that world market is all about international competitiveness and Pak has borders with China and India (worlds strongest competitors and emerging economies). It’s a long long way to go ahead and comparasion of economy should be correct.Recommend

  • bharat
    Nov 27, 2015 - 6:10AM

    and now you have enough money to build another 100 nukesRecommend

  • someone
    Nov 27, 2015 - 6:59AM

    Pakistani ruling elite isnsmart. Its sitting on the resources till middle east runs out of gas and oil and then Pakistan would start extraction and sell of oil and gas. But its 200 years away when middle east would run out.Recommend

  • Nov 27, 2015 - 8:34AM

    Haaah! What a miserable statement meant to give a boost to the sagging performance of the PMLN government. We have heard this before and remain unimpressed. Only shallow people make such outdated comments. SalamsRecommend

  • Sultan Durrani
    Nov 27, 2015 - 9:39AM

    PML-N people would never talk of such things, not being in their interest. Projects with quick& instant returns suits them.Recommend

  • Knight Khan
    Nov 27, 2015 - 2:18PM

    @Aman We don’t have doubt about that but I think you haven’t read Mr. Munir’s statement second part. It has more political aspects than economical bro. Recommend

  • hamza
    Dec 1, 2015 - 5:19AM

    Oh crap if we have oil they wil want to invade us hahahaRecommend

  • Super Analyzt
    Dec 25, 2015 - 6:06AM

    Even then the people will remain poor and helpless. All MNCs will gain contacts which will not be in the interests of the country.Recommend

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