Report reveals significant expansion in country’s hydrocarbon reserves

KARACHI: A new report reveals a significant expansion in Pakistan’s hydrocarbon reserves, driven primarily by successful exploration and upward revisions in existing fields.

The research report by Topline Securities, covering the six-month period ending in June 2025, highlights a robust reserve replacement ratio of 235 percent for gas and an increase in both gas and oil reserves across the country. Pakistan’s balance recoverable gas reserves have increased by 4.6 percent, while its balance recoverable oil reserves grew by nearly 1 percent, the report says.

The expansion in gas reserves was largely spearheaded by fields operated by Mari Petroleum Company Limited (MARI). These fields added a total of 996 BCF (billion cubic feet) of gas, boosting MARI’s reserve life to 18 years. The additions came from a combination of new discoveries and upward revisions.

The new discoveries at Soho and Spinwam contributed 125 BCF and 92 BCF, respectively. Upward revisions in existing fields were also a significant factor, with Mari Deep, HRL, Shewa, and Ghazij adding another 773 BCF to the total.

Beyond MARI’s contributions, other notable discoveries included Soghri North, operated by OGDC, which added 125 BCF, and Razgir, operated by MOL Pakistan, which contributed 57 BCF. Total gas production over the six months was 621 BCF, resulting in a reserve replacement ratio of 2.35x for this period.

Oil reserves also saw an increase, with the total balance recoverable reserves rising to 240 million barrels. This growth was mainly due to additions from the Shewa and Pindori fields, which contributed 2.27 million barrels and 2.17 million barrels, respectively.

Overall, the data paints a positive picture of Pakistan’s oil and gas exploration sector, highlighting successful new discoveries and effective upward revisions in existing fields.

Copyright Business Recorder, 2025