Pakistan's expected discovery of huge oil reserves is located close to the Iran border located 230km of Karachi's offshore, an official close to the information has told an international news publication.

Speaking to Gulf News, a source revealed on the condition of anonymity that while the exact size of the reserves remains to be unknown, it is expected that it will be big enough to accommodate Pakistan's oil needs. The senior official further further said that the initial indications suggest that Pakistan may become an oil exporting country in the future.

Without sharing much details, Prime Minister Imran Khan has already told the nation about the forthcoming ‘good news' that Pakistan is expected to find the oil reserves in coming three weeks. He said that if the reserves are found, then the nation might not even be in need of importing oil.

“We are hopeful of finding large reserves of gas and oil in the sea near Karachi. The nation should pray for this and I will soon share good news regarding this. God willing the reserves will be so large that we will not need to import any oil," the premier said last Monday.

Since January this year, oil giant Exxon Mobil and Italy's ENI have been drilling an ultra-deep oil well, local media reported. If Pakistan does discover the massive oil and gas reserves, not only will it help the nation to tackle its economic problems, but the Gulf countries, all of South Asia as well as China will benefit from it.

Copyright Business Recorder, 2019