Key Takeaways
- Pakistan’s recoverable oil and gas reserves increased to 3.72 billion barrels of oil equivalent by June 2026.
- The country’s overall hydrocarbon reserve life extended to 19 years, up from 15 years in 2024.
- New discoveries and reserve upgrades offset depletion at mature fields, boosting energy security.
Pakistan’s energy reserves have seen a significant boost, with the country now estimated to have enough resources to last for 19 years, according to Arif Habib Limited.
The recoverable oil and gas reserves have risen to an impressive 3.72 billion barrels of oil equivalent by June 2026, marking a substantial increase from previous years.
This growth is attributed to new discoveries and reserve upgrades, which have more than compensated for the depletion at several mature fields, including Nashpa, Adhi, and Pasakhi.
Oil reserves specifically have increased by 15 percent year-over-year to 276 million barrels, from 240 million barrels in the previous year. The Baragzai field made a significant contribution, with its reserves reaching 49.09 million barrels, up from 21.01 million barrels in December 2025.
Natural gas reserves have also seen a notable rise, increasing by 9 percent to 20,664 billion cubic feet (Bcf), compared to 18,981 Bcf in June 2025. Mari Ghazij and Spinwam were key contributors, with Mari Ghazij’s reserves increasing by 74 percent to 1,723 Bcf, and Spinwam’s reserves rising more than fivefold to 489 Bcf.
Newly discovered fields such as Spinwam, Baragzai, Bitrism East, Chakar, and Faakir collectively added 53.52 million barrels of oil and 772.97 Bcf of gas to Pakistan’s reserve base, further enhancing the country’s energy security.
Among major exploration and production companies, Oil and Gas Development Company (OGDCL) saw a 16 percent increase in oil reserves to 152 million barrels, while Pakistan Petroleum Limited recorded a 58 percent increase to 33 million barrels. Mari Energies’ oil reserves rose 5 percent to 10 million barrels, while Pakistan Oilfields Limited’s reserves declined 5 percent to 14 million barrels.
Gas reserves showed mixed trends, with Mari Energies’ reserves increasing by 15 percent to 6,353 Bcf, while OGDC’s declined by 4 percent to 5,750 Bcf, PPL’s fell by 3 percent to 2,178 Bcf, and POL’s decreased by 2 percent to 211 Bcf.
The remaining reserve life at major producers is estimated at 21 years for Mari, 19 years for OGDC, and 10 years each for PPL and POL, according to AHL.
