AHL Research has analyzed Pakistan’s oil and gas reserves, noting a 2% YoY increase in total reserves and a 3% YoY rise in gas reserves. As of Jun’25, oil reserves slightly declined by 1% YoY to 239.6 million bbl, primarily due to decreases in major fields like Pasakhi Nashpa and Kunar, offset by increases in Bettani and Shahdadpur. Total gas reserves reached 18,981 bcf, up 5% from Dec’24 and 3% YoY, driven by growth in Mari Ghazij, Shahdadpur, and Shewa.

MARI reported significant contributions, with oil reserves jumping 11% to 10 million barrels and gas reserves up 9% to 5,565 billion cubic feet, aided by recent discoveries. In the AHL E&P universe, POL saw a 33% YoY increase in oil reserves, while OGDC and PPL experienced declines of 3% and 6%, respectively. Gas reserves for OGDC and PPL fell by 1% and 3%, while MARI and POL reported increases of 9% and 32%.

The estimated remaining hydrocarbon reserve life for OGDC, MARI, PPL, and POL stands at 23, 17, 12, and 10 years, respectively, with total hydrocarbon reserves having a life of 17 years.