KARACHI: Pakistan’s hydrocarbon reserves have recorded a notable expansion, fueled by fresh discoveries and upward revisions in existing fields, according to a new research report by Topline Securities covering the six months ending June 2025.
The report highlights a robust reserve replacement ratio of 235 percent for natural gas, with overall balance recoverable gas reserves rising by 4.6 percent and oil reserves increasing by nearly 1 percent.
Mari Petroleum Company Limited (MARI) led the surge, contributing 996 billion cubic feet (BCF) of additional gas and extending its reserve life to 18 years. This growth stemmed from both new discoveries—such as Soho (125 BCF) and Spinwam (92 BCF)—and upward revisions in existing fields including Mari Deep, HRL, Shewa, and Ghazij, which collectively added 773 BCF.
Other key contributions came from Soghri North, operated by OGDC, with 125 BCF, and Razgir, operated by MOL Pakistan, which added 57 BCF. With total gas production at 621 BCF over the period, the reserve replacement ratio stood at 2.35x.
On the oil side, recoverable reserves climbed to 240 million barrels, mainly due to additions from the Shewa and Pindori fields, which contributed 2.27 million and 2.17 million barrels, respectively.
The findings underscore renewed momentum in Pakistan’s exploration sector, with a healthy pipeline of new discoveries and reserve upgrades bolstering the country’s energy outlook.
