Pakistan’s Estimated Oil and Gas Reserves Reach 19-Year Reserve Life
Pakistan’s recoverable oil and gas reserves increased to an estimated 3.72 billion barrels of oil equivalent (BOE) by June 2026, according to a report by Arif Habib Limited.
The rise came as new discoveries and reserve revisions helped offset declining production and depletion at several mature oil and gas fields.
As a result, Pakistan’s estimated overall hydrocarbon reserve life has increased to around 19 years, compared with about 15 years in June 2024 and June 2023.
Oil Reserves Rise 15%
Pakistan’s oil reserves increased by around 15% year-on-year, reaching 276 million barrels in June 2026, compared with 240 million barrels a year earlier.
Baragzai recorded one of the biggest increases, with its estimated reserves rising to 49.09 million barrels from 21.01 million barrels in December 2025.
Higher reserves at Mardankhel, Mamikhel South, Maramzai and Spinwam also contributed to the overall increase.
These gains helped offset declining reserves at mature fields, including Nashpa, Adhi, Pasakhi/Pasakhi North East, Makori East, Kunar and Sono.
Gas Reserves Also Increase
Pakistan’s natural gas reserves rose by around 9% to 20,664 billion cubic feet (Bcf) in June 2026, compared with 18,981 Bcf in June 2025.
Mari Ghazij recorded a 74% year-on-year increase, taking its reserves to 1,723 Bcf.
Spinwam also posted a significant increase, with its gas reserves rising more than five times to 489 Bcf.
Higher reserves at Baragzai and Soho helped offset depletion at fields including Sui, Kandhkot, Nashpa, Uch and Qadirpur.
New Discoveries Add to Reserve Base
Several newly discovered fields have also strengthened Pakistan’s reserve position.
Spinwam, Baragzai, Bitrism East, Chakar and Faakir collectively added an estimated 53.52 million barrels of oil and 772.97 Bcf of gas to the country’s reserve base.
The additions helped balance the decline recorded at some older producing fields.
Reserve Position of Major Companies
Among major listed exploration and production companies, Oil and Gas Development Company Limited (OGDCL) saw its oil reserves rise by 16% to 152 million barrels.
Pakistan Petroleum Limited’s oil reserves increased by 58% to 33 million barrels, while Mari Energies recorded a 5% increase to 10 million barrels.
Pakistan Oilfields Limited’s oil reserves, meanwhile, declined by 5% to 14 million barrels.
Gas reserves showed mixed results among the major producers. Mari Energies’ reserves increased by 15% to 6,353 Bcf, while OGDCL, PPL and POL recorded declines.
Arif Habib Limited estimated remaining reserve life at 21 years for Mari Energies, 19 years for OGDCL, and 10 years each for PPL and POL.
