Pakistan has reason to cheer after the reported discovery of a significant deposit of petroleum and natural gas in its territorial waters. The development comes at a time when the South Asian country is reeling from an economic crisis.
A senior security official in Pakistan has told DawnNewsTV that these reserves have the potential to “change the country’s destiny”. However, some say it is too soon to claim that Pakistan has found massive oil and gas reserves.
Let’s take a closer look.
Pakistan finds ‘massive’ oil, gas reserves
According to the DawnNewsTV report, the oil and gas reserves were unearthed after Pakistan conducted a three-year survey in collaboration with a friendly country.
With this survey, Pakistan has discovered the location of the deposits. According to some estimates, this is the “fourth largest” oil and gas reserves in the world.
Venezuela has the largest amount of oil reserves with over 3 billion barrels, followed by Saudi Arabia, Iran, Canada and Iraq. The United States is believed to have the most untapped shale oil reserves.
