ISLAMABAD – Massive gas reserves have been found in Shewa fields in northwestern Pakistan, and is estimated at 351.2 billion cubic feet (BCF).
The new reserves are expected to last for 17 years as Shewa-2 well will contribute 70 million cubic feet per day (mmcfd) to the national gas grid, boosting domestic production by over 3pc daily. This increase is expected to reduce the country’s reliance on costly fuel imports and conserve substantial foreign exchange reserves.
Mari Petroleum Company Limited plans to deliver 70 mmcfd of gas from Shewa-2 through a new pipeline built by Sui Northern Gas Pipeline Limited (SNGPL).
Shewa reserves are estimated to be sufficient for more than a decade at planned production rate. The company’s stock also increased by 1.93pc to Rs3,510.73 per share, with a trading volume of 125,759 shares on the Pakistan Stock Exchange (PSX).
Recent figures show positive turnaround in Pakistan’s oil and gas reserves, with crude oil reserves increasing by 26pc and gas reserves by 2pc in mid-2024. This has extended the lifespan of the country’s reserves to 10 years for oil and 17 years for gas. Mari Petroleum and OGDC have played key roles in this growth, with Mari’s oil reserves doubling since December 2023 and notable increases in gas reserves.
Tight gas production starts at Pakistan’s Nur West Well-1, boosting supply
