Over the past decade, Pakistan’s oil and gas production has experienced a notable decline, contrary to expectations of growth. This downturn is primarily due to political instability, security challenges, and a continuous lack of investment in exploration and development. Consequently, no significant reserves have been discovered during this period.
Data from the Pakistan Petroleum Information Service (PPIS) reveals that the country’s crude oil production has sharply decreased since 2015. At that time, daily production was 94,500 barrels, but by 2024, it had dropped to just 70,500 barrels per day—a significant decline of 24,000 barrels per day over the decade.
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The gas sector has faced similar challenges, with a reduction of 900 million standard cubic feet per day (mmscfd) during the same timeframe. By the fiscal year 2024, gas production had decreased by 4.4%, leaving Pakistan with a daily output of 3,116 million cubic feet.
Despite this overall decline, there was a slight uptick in oil production in FY24, with daily output increasing by 1.5% to reach 70,536 barrels per day. However, experts caution that this modest increase is not enough to counteract the broader downward trend observed over the last ten years.
