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gas reservesBusiness News Today - Read Business News, India News, LIVE Share Market News Updates, Economy, Sensex, NIFTY News | CNBCTV18
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73% Informative
A significant deposit of petroleum and natural gas has been discovered in Pakistan ’s territorial waters, with estimates suggesting it could be the fourth -largest oil and gas reserve globally.
The discovery, verified through a three-year survey in collaboration with a friendly nation, holds the potential to dramatically alter Pakistan 's economic fortunes.
Proposals for exploration and bidding are under review, but actual extraction may take several years .
Exploration requires a substantial investment of around $5 billion , and extracting the reserves could take up to five years .
This discovery comes at a critical juncture for Pakistan , whose economy is grappling with severe challenges.
VR Score
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