PM Shehbaz calls for accelerating oil, gas exploration to cut import bill

Prime Minister Shehbaz Sharif on Thursday underscored the need to prioritise discovery of new oil and gas reserves to reduce Pakistan’s reliance on imported petroleum products and save precious foreign exchange.

Chairing a high-level meeting on petroleum sector affairs at the Prime Minister’s Office, the premier also directed authorities to digitally integrate the entire oil and gas supply chain, from imports to end consumers, on a priority basis.

He said digitisation of the supply chain would help curb smuggling of petroleum products and bring greater benefits to the national exchequer.

The meeting was briefed on the petroleum and gas sector roadmap, during which it was disclosed that Oil and Gas Development Company Limited (OGDCL) has discovered major oil and gas reserves in the Nashpa Block located in Kohat district.

READ MORE: OGDCL makes significant oil and gas discovery in Khyber Pakhtunkhwa

Congratulating the nation on the discovery, the prime minister appreciated the performance of the concerned institutions. Officials informed the meeting that the newly discovered reserves would enable production of up to 4,100 barrels of oil per day.

The prime minister was also told that domestic gas consumers are receiving gas at better pressure this winter compared to last year. Work on RLNG connections is progressing at a fast pace, with a target of 350,000 connections to be completed by June 2026.

The meeting further noted that pipelines for the Shewa and Bettani gas fields have already been commissioned, while work on the pipeline from the Kot Palak gas field is currently underway.

Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, Federal Minister for Economic Affairs Ahad Khan Cheema, Minister for Petroleum Ali Pervaiz Malik, and senior government officials attended the meeting.