Has Pakistan found the oil reserves?

Has Pakistan found the oil reserves?

It has been in news these days that Pakistan have found huge reserve of oil and natural gas in Pakistan waters near Iran. As per the Pakistan P.M Imran Khan, these oil reserves can be the biggest in Asia. There are no official comments by Exxon mobil about this. As per them drilling is still on the way saying anything right now will be premature right now.

The companies which are involved in it are Exxon Mobil which is the US based company, Italy's ENI and two governmental companies of Pakistan. Exxon also came 10 years prior to this, but had to go
Image result for petroleum extractionbecause of the militancy in the area.

Why Pakistan is really hyper because of this, because they need this discovery to be happen for sure. Pakistan is under performer in terms of exports right now there exports are only 24 million US dollars now a time. If this happens Pakistan economy will boost but its not like they will become UAE or Kuwait. They don't have any big industry nor they have services to offer.

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Pakistan right now spends a lot amount of their money to get imports of energy. As per EIA  that is United states energy information administration Pakistan have good amount of natural gas and oil that is about 9 million barrels of oil, which is equal to 73 years of their consumption, but they don't have knowledge where this all reserves are situated and how feasible it is to extract them.

If in any case Pakistan find this oil huge benefactory of this will be China as China has built kwadar port in the region. It may also be that relation between India and Pakistan may take some good term, depends on leadership steps taken by both the nations.




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