However, PPL – a state-run oil and gas exploration company – has not yet announced the actual size of the hydrocarbon reserves in the block. Since 2000, no major discovery of hydrocarbon reserves has been made due to low wellhead gas prices and bureaucratic snags. During the previous government of Pakistan Muslim League-Nawaz (PML-N), no major attention was paid to exploiting the domestic oil and gas reserves and instead liquefied natural gas (LNG) import contracts were signed. Of the existing gas reserves, 7% is depleting every year. Officials pointed out that domestic gas production had been static at 4 billion cubic feet per day (bcfd) since 2000.

Source: The Express Tribune February 07, 2020 03:33 UTC