Over the past 10 years, Pakistan’s oil and gas production has witnessed a significant decline instead of the anticipated growth, a situation attributed to political instability, security concerns, and a persistent lack of investment in exploration and development.
Due to the reasons mentioned above, large reserves have not been discovered over the last decade.
According to data provided by the Pakistan Petroleum Information Service (PPIS), the country’s crude oil production has fallen drastically since 2015. Back then, the daily production stood at 94,500 barrels. However, by 2024, it had decreased to just 70,500 barrels per day. This shows a staggering decline in petrol production of 24,000 barrels per day over the last decade.
The gas sector has suffered a similar fate, with a reduction of 900 million standard cubic feet per day (mmscfd) over the same period. By fiscal year 2024, Pakistan’s gas production had decreased by 4.4%, leaving the country producing 3,116 million cubic feet of gas daily.
Despite this grim scenario, a slight increase in oil production was observed in FY24, with daily output rising by 1.5%, bringing the total to 70,536 barrels per day. However, experts suggest that this minor increase is insufficient to offset the broader downward trend observed over the last ten years.
