AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Pakistan’s exploration and production (E and P) sector is on the cusp of recovery, driven by improving liquidity and increased discoveries, according to figures released by the Pakistan Petroleum Information Service (PPIS) for the fiscal year ending June 2025. Despite a 12% and 8% year-on-year decline in oil and gas production, respectively, industry experts foresee a positive turnaround.
The country’s oil and gas production for the year stood at 62.4 thousand barrels per day (bpd) and 2,882 million cubic feet per day (mmcfd). However, a resolution to the excess regasified liquefied natural gas (RLNG) situation is anticipated to facilitate a rebound in domestic hydrocarbon output. This will be achieved through several measures, including renegotiating RLNG contracts in 2026, deferring cargo deliveries, and addressing increased demand.
The fiscal year 2025 saw industry participants making 21 new discoveries, marking a significant increase of 40% and 91% compared to the 15 and 11 discoveries made in fiscal years 2024 and 2023, respectively. These discoveries are contributing to an incremental production of 2.9 thousand bpd of oil and 253 mmcfd of gas based on initial flow rates.
The developments are seen as a positive sign for the E and P sector, with stakeholders optimistic about the potential for growth and sustainability as the market conditions stabilize.