OIL AND GAS SECTOR OF PAKISTAN

The oil and gas sector has a considerable impact on the economy the sector attracts by far the highest level of foreign direct investments in the country, and raises significant tax income for the government. Pakistan has an interesting Geo-dynamic history of large and prospective basin (onshore and offshore) with sedimentary area of 827,268 sq. km. So far about 844 million barrels crude oil reserves have been discovered of which 535 million barrels have already been produced. Up till now over 620 exploratory wells have been drilled by various national and international exploration and production companies, resulting in over 177 oil and gas discoveries Pakistan is among the most gas dependent economies of the world. Natural gas production was about 3.7 billion cubic feet per day. Pakistan has well developed and integrated infrastructure of transporting, distributing and utilizing natural gas with 9,063 km transmission and 67,942 km of distribution and service lines network developed progressively over 50 year.