Pakistan Among Top 5 Countries to Discover Oil and Gas in 2017

[Riaz Haq]

Pakistan made two key oil and gas discoveries in the third quarter and another three discoveries in the fourth quarter of 2017. These discoveries may have prompted the US-based Exxon-Mobil to join off-shore drilling efforts in Pakistan. American energy giant's entry in Pakistan brings advanced deep sea drilling technology, its long experience in offshore exploration and production and its deep pockets to the country. US Energy Information Administration (EIA) estimates that Pakistan has technically recoverable deposits of 105 trillion cubic feet (TCF) of gas and 9.1 billion barrels of oil. Exxon-Mobil is expected to accelerate exploration and lead to more discoveries and increased domestic oil and gas production.

Top Countries Discovering Oil and Gas:

Russia led with 10 discoveries, followed by Australia with seven discoveries and Colombia with four discoveries. Pakistan and the UK each had three discoveries in the fourth quarter of 2017, according to Global Oil and Gas Discoveries Review.

Oil and Gas Discoveries 2H/17. Source: Offshore Technology

In fourth quarter of 2017, the Former Soviet Union leads with 12 discoveries, followed by Asia with eight discoveries, and Oceania with seven discoveries. Europe and South America had five discoveries each, followed by North America with two discoveries, while the Middle East and Africa had one discovery each in the quarter, according to Offshore Technology website.

Top 3 Offshore Drilling Sites in Asia-Pacific. Source: Bloomberg

Exxon-Mobil's Entry in Pakistan:

American energy giant Exxon-Mobil has joined the offshore oil and gas exploration efforts started by Oil and Gas Development Corporation (OGDC), Pakistan Petroleum Limited (PPL) and Italian energy giant ENI, according to media reports.

Each company will have 25% stake in the joint venture under an agreement signed at the Prime Minister’s Secretariat in May among ExxonMobil, Government Holdings Private Limited (GHPL), PPL, ENI and OGDC.

Exxon-Mobile's entry in Pakistan brings deep offshore drilling technology, its long experience and financial resources to the country. It is expected to accelerate exploration and more discoveries.

Pakistan Oil Basins:

A Pakistan Basin Study conducted in 2009 found that the country has six onshore and two offshore basins; offshore basins being the Indus basin and the Makran basin in the Arabian Sea.

The Indus offshore basin is a rift basin that geologists say developed after the separation of the Indian Plate from Africa in the late Jurassic period. It is believed to be the second largest submarine fan system in the world after the Bay of Bengal with high probability of hydrocarbon discoveries.

The Makran Offshore basin is separated from the Indus Offshore basin by Murray ridge, according to Syed Mustafa Amjad's report in Dawn. It is an oceanic and continental crust subduction zone with deepwater trenches and volcanic activity. The basin consists of oceanic crust and periodic emergence of temporary mud islands along the coast suggesting strong evidence of large hydrocarbon deposits.

Pakistan Hydrocarbon Potential:

The United States Energy Information Administration (EIA) estimates that Pakistan has 586 TCF (trillion cubic feet) of gas in Pakistan of which 105 TCF is technically recoverable.

In addition to gas deposits, US EIA estimates there are 227 billion barrels of oil in Pakistan with 9.1 billion barrels being technically recoverable.

Pakistan also has 185 billion tons of coal deposits in Thar desert which are just beginning to be extracted by Sindh Engro Coal Mining Corporation.

Oil and Gas exploration and production companies are currently planning to drill 90 wells in different parts of  the country. Under the plan, as many as 50 exploratory and 40 development wells would be drilled in a bid to make the country self-sufficient in the energy sector, according to media reports.

During the last five years, the sources said the exploration and production companies drilled 445 new wells, out of which 221 were exploratory, adding that the increased exploration activities resulted in 116 new oil and gas discoveries.

Current Account Deficits:

Energy imports make up a big chunk of Pakistan's total imports. Rising oil prices worsen the current account deficit and put pressure on Pakistan's reserves, forcing the country to seek periodic IMF bailouts.

Pakistan’s current account deficit has jumped by 50% to a record high of $14.03 billion in the first 10 months of the current fiscal year 2018, according to the State Bank of Pakistan.  The country imported $12 billion worth of energy in 2017. The bill is likely to grow with increasing demand and rising prices in 2018.

Reducing energy imports by increasing domestic production will likely ease Pakistan's current account deficits and reduce its chances of going back to the IMF again and again.

Summary:

Pakistan made 2 key oil and gas discoveries in 3rd quarter and another 3 discoveries in the 4th quarter of 2017. These discoveries appear to have prompted US-based Exxon-Mobil to join off-shore drilling efforts in Pakistan.  American energy giant's entry in Pakistan brings advanced deep sea drilling technology, its long experience in offshore exploration and financial resources to the country. It is expected to accelerate exploration and lead to more discoveries.  US Energy Information Administration (EIA) estimates that Pakistan has technically recoverable deposits of 105 trillion cubic feet (TCF) of gas and 9.1 billion barrels of oil. Reducing energy imports by increasing domestic production will likely ease Pakistan's current account deficits and reduce its need to seek repeated IMF bailouts.

Related Links:

Haq's Musings

South Asia Investor Review

US EIA Estimates of Oil and Gas in Pakistan

Methane Hydrate Release After Balochistan Quake

Thar Coal Development

Why Blackouts and Bailouts in Energy-Rich Pakistan?

Riaz Haq's Youtube Channel

PakAlumni Social Network

[Riaz Haq]

A good-sized gas discovery in #Kalat, #Balochistan . #Pakistan Petroleum Ltd MD says initial estimates show gas volume is close to one trillion | The Express Tribune


https://tribune.com.pk/story/2263143/a-good-sized-gas-discovery-in-...



The hefty energy imports cost the country an approximate $15-16 billion annually, which puts great pressure on the foreign exchange reserves.

But the days of burning precious foreign exchange to fuel wheels of economy may have come to an end with this latest discovery.

In an interview, PPL Managing Director Moin Raza Khan told The Express Tribune, “Last year in December, we made a good-sized discovery in the Kalat Plateau in the deeper part of Balochistan. Our gas column is huge, slight less than 1km.”

As per initial estimates, the size of gas reserves is around one trillion cubic feet.

Explaining what constitutes a good discovery, Arif Habib Limited (AHL) Head of Research Tahir Abbas told The Express Tribune, “Our local gas production is around 3.7 bcf; so any discovery with a size of 10% of our total annual production [or more] would be a slightly big discovery.”

“When we drill more appraisal wells, we can give an exact figure but based on the map that we have prepared and based on the column of gas that has come, the volume is close to one trillion cubic feet,” the PPL MD added.

Sharing details, he said that the column had around 55% of hydrocarbons and though they would have to set up a lot of plants, he was of the view that “this discovery has opened a new petroleum play in the country”.

“We are going to drill another well soon, probably in the next six or seven months. But because of the location of the field, it is difficult to develop it at the pace we would have desired.”

Raza said that this was not just a single discovery but there were many other structures as well. “The hydrocarbon habitat has been confirmed,” he said, adding that once the gas discovery was made, chances of success increased.

“PPL’s Margand findings are a landmark discovery. There will be a string of discoveries after this in this region.”

Slowdown in discoveries

Pakistan’s gas production has stagnated at around four billion cubic feet per day (bcfd) against an unconstrained demand for over 6 bcfd. To meet the shortfall, the government initiated LNG imports.

Natural gas is the country’s main source of fuel, accounting for most of the energy consumption but most of it still remains untapped. In fact, over the years gas production has been declining due to insufficient investment and regulatory challenges.

“In Pakistan, so far we have discovered gas equivalent to 10.8 billion barrels of oil and in case of oil we have discovered around 1.5 billion barrels,” said Raza.

Sharing the current situation, the AHL head of research said that Pakistan’s gas reserves as of December 2019 stood at 20,884 bcf, which means “we have just 16 years of gas reserves available”.

Abbas said that since “we have not had any major discovery in the past 15 to 20 years, there has been a slowdown in gas production”. Tal block was the last major discovery in 2002, he added.

“We have a significantly lower reserves replacement ratio because we have not made any major discovery in the past 15 to 20 years.”

Echoing similar remarks, Raza said that over the years many discoveries have been made, such as Uch, Mari, Kandhkot and Adhi to name a few, and are still being made but the size of those discoveries is decreasing.

After the discovery of Sui gas field, exploration activities kicked off in full swing and from 1952 to 1960, 4.9 billion barrels of oil equivalent gas had been discovered, he added.

“So, about 45% of the gas discovered in Pakistan was already found within 10 years after the Sui discovery.”

After 1960, the curve somewhat flattened but further exploration activities started and “we kept adding to the overall reserves”.

[Riaz Haq]

Pakistan Invests in #MiddleEast #Oil in $305 Million #UAE Deal. A group led by state-owned #Pakistan Petroleum Ltd. will invest about $305 million to find crude and natural gas in the UAE’s Persian Gulf waters, according to #AbuDhabi National Oil Co. https://www.bloomberg.com/news/articles/2021-08-31/pakistan-invests...

The United Arab Emirates awarded an oil concession to companies from Pakistan for the first time.

A group led by state-owned Pakistan Petroleum Ltd. will invest about $305 million to find crude and natural gas in the UAE’s Persian Gulf waters, according to Abu Dhabi National Oil Co.

[Riaz Haq]

OGDC Confirms #Hydrocarbons Presence at Deeper Formation of Wali Block in #KP #Pakistan. It said the 3rd prospective zone, Lockhart Limestone, has been tested at a rate of 13.7 million standard cubic feet of #gas & 1,010 barrels of condensate #oil per day https://www.marketwatch.com/story/ogdc-confirms-hydrocarbons-presen...

Oil & Gas Development Co. said Tuesday that its Wali-1 exploration well confirmed the presence of hydrocarbons at the deeper reservoirs of its Wali block in Pakistan.

The Pakistani energy company said the third prospective zone, Lockhart Limestone, has been tested at a rate of 13.7 million standard cubic feet of gas and 1,010 barrels of condensate per day.

"This confirmation of presence of hydrocarbon in the deeper reservoirs has further extended the hydrocarbon play area on the south western part of Bannu Basin and de-risked the exploration," OGDC said.

Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT

[Riaz Haq]

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.

https://www.cnbctv18.com/world/pakistan-finds-oil-that-may-change-i...

The discovery, verified through a three-year survey in collaboration with a friendly nation, holds the potential to dramatically alter Pakistan's economic fortunes, according to a senior security official quoted by DawnNewsTV.

The extensive geographic survey has pinpointed the location of the deposits, with relevant departments informing the government. The survey marks the beginning of what officials are calling an initiative to benefit from the ‘blue water economy’, which includes not only oil and gas but also other valuable minerals from the ocean.

Proposals for exploration and bidding are under review, but actual extraction may take several years. The process of digging wells and extracting the oil and gas could be a long-term endeavour, requiring further investments and infrastructure development.

Challenges ahead

Former Oil and Gas Regulatory Authority (Ogra) member Muhammad Arif struck a more cautious note, reminding stakeholders that while optimistic, there is never a guarantee the reserves will meet expectations.

He explained that exploration requires a substantial investment of around $5 billion, and extracting the reserves could take up to five years.

[Riaz Haq]

The Chinese side expressed its willingness to strengthen cooperation with Pakistan in such areas as offshore oil and gas resources, and natural gas hydrate. The Chinese side would encourage Chinese companies to actively participate in the development of offshore oil and gas blocks of Pakistan.

http://losangeles.china-consulate.gov.cn/eng/topnews/202406/t202406....

Joint Statement between the People’s Republic of China and the Islamic Republic of Pakistan
2024-06-09 10:43
June 7, 2024, Beijing

1.At the invitation of H.E. Li Qiang, Premier of the State Council of the People’s Republic of China, H.E. Muhammad Shehbaz Sharif, Prime Minister of the Islamic Republic of Pakistan paid an official visit to China from June 4 to June 8, 2024.

2.During the visit, H.E. Xi Jinping, President of the People’s Republic of China met with Prime Minister Sharif. Prime Minister Sharif held talks with Premier Li Qiang of the State Council, and met with H.E. Zhao Leji, Chairman of the Standing Committee of the National People’s Congress. The two sides had candid and in-depth exchanges of views on the entire spectrum of bilateral relations as well as regional situation and international landscape and reached extensive consensus on further strengthening the China-Pakistan All-Weather Strategic Cooperative Partnership and promoting practical cooperation in various areas, and on international and regional issues of mutual interest.

3.The two sides agreed that China and Pakistan are All-Weather Strategic Cooperative Partners and ironclad friends, and the two countries have always understood, trusted and supported each other. Since the establishment of diplomatic ties 73 years ago, China-Pakistan relations have stood the test of changing international environment and have been as solid as a rock, and as unshakable as a mountain. The Chinese side reiterated that the China-Pakistan relationship is a priority in its foreign relations. The Pakistani side underscored that the Pakistan-China relationship is the cornerstone of its foreign policy. The two sides enjoy unbreakable strategic mutual trust, fruitful practical cooperation in various fields, and maintain close coordination on international and regional affairs. The two sides would continue to view the relationship between China and Pakistan from a strategic height and a long-term perspective, take effective measures to safeguard the common interests of China and Pakistan, promote socio-economic development and well-being of the two peoples, work together to jointly uphold regional peace, stability, development and prosperity, and accelerate the building of an even closer China-Pakistan Community with a Shared Future in the New Era.

4.The Chinese side congratulated Pakistan on holding successful general elections, and expressed best wishes for the new Pakistani government in leading the Pakistani people in their endeavors to achieve socio-economic development, prosperity, unity, stability and security. The two sides will explore avenues to deepen experience-sharing in state governance and synergize their development strategies.

5.The Pakistani side spoke highly of China's major development achievements in the New Era, and expressed good wishes to the Chinese people that under the strong leadership of the Communist Party of China, China will realize the second centenary goal of building China into a great modern socialist country in every dimension. The Pakistani side spoke highly of and supports China’s all-round efforts to advance the building of a strong country and achieve national rejuvenation through a Chinese path to modernization, believes that the Chinese path to modernization provides a new option and practical solution for developing countries to achieve independent development.

[Riaz Haq]

Pakistan’s oil reserves surge 26% as OGDC and MARI report significant upgrades

https://profit.pakistantoday.com.pk/2024/08/20/pakistans-oil-reserv...

Substantial increases in oil reserves bolster the energy sector, with MARI's assets doubling and OGDC seeing major gains despite declines in other fields

Pakistan’s oil and gas sector has received a substantial boost, with the country’s total oil reserves increasing by 26% to 243 million barrels as of June 2024, according to the latest data released by the Pakistan Petroleum Information Service (PPIS).

According to IMS Research, this significant rise is largely driven by notable reserve upgrades in key energy companies, particularly Oil and Gas Development Company (OGDC) and Mari Petroleum Company Ltd (MARI).

OGDC and MARI lead the charge

OGDC reported a 64% increase in its oil reserves, driven by major upgrades in key assets like Kunar and Pasakhi/Pasakhi North, which saw their reserves rise to 10.6 million barrels and 15.15 million barrels, respectively. Despite these gains, OGDC experienced a 30% decline in the oil reserves of its Nashpa field and an 8% reduction in its overall gas reserves due to natural declines in mature fields.

Meanwhile, MARI’s oil reserves have doubled since December 2023, reaching 13.4 million barrels, bolstered by the addition of reserves from the Bannu West (Shewa) field and the Bolan East reserve upgrade. MARI also saw a significant 25% increase in its gas reserves, with the Mari Ghazij field’s reserves surging from 35 billion cubic feet (bcf) to 789 bcf.


Tal Block and PPL show mixed results

The Tal Block, which is crucial to Pakistan Oilfields Ltd (POL), experienced a 10% decline in both oil and gas reserves, attributed mainly to production. Despite these declines, the recent discovery of Razgir-1 is expected to offset some of the reductions, offering a potential uplift in the future.

Pakistan Petroleum Ltd (PPL), however, saw a 6% decrease in its oil reserves and a 4% drop in gas reserves, primarily due to ongoing production activities. The company has managed to stabilize its reserves position through timely workover jobs, which are designed to maximize the life of its existing fields.

The overall modest 2% increase in Pakistan’s gas reserves to 18.5 trillion cubic feet (tcf) is seen as a mixed outcome, given the declines in other major fields. The upgrades in oil reserves, however, particularly for listed exploration and production (E&P) companies like OGDC and MARI, suggest a positive outlook for the sector.

This update is particularly favorable for OGDC and MARI, both of which are poised to see enhanced revenue streams from their bolstered oil reserves. With MARI’s oil reserves now close to those of the Tal Block, the company is expected to further diversify its revenue, reducing its reliance on gas.

As Pakistan continues to navigate the challenges of energy production and reserves management, these developments provide a cautiously optimistic outlook for the country’s energy sector, especially for key players like OGDC and MARI.

[Riaz Haq]

Why No Major Oil Company Is Rushing To Drill Pakistan's Huge Oil Reserves | OilPrice.com

Pakistan has discovered potentially massive oil and gas reserves, but experts caution that exploitation will take years and significant investment.
Security concerns and high costs are deterring international oil companies from pursuing exploration in Pakistan, leaving China as the most likely partner for future development.
Despite the discovery, Pakistan continues to face an energy crisis, with Iran reportedly smuggling fuel into the country, further complicating the situation.

https://oilprice.com/Energy/Energy-General/Why-No-Major-Oil-Company...

A long exploration effort has led to the reportedly massive discovery of oil and gas reserves in Pakistan’s territorial waters, a cache so large that it is said it could change the economic trajectory of the beleaguered country. But no one is rushing to drill in Pakistan, and experts are concerned about jumping the gun.

According to DawnNewsTV, the three-year survey was undertaken to verify the presence of the oil and gas reserves. “If this is a gas reserve, it can replace LNG imports and if these are oil reserves, we can substitute imported oil,’’ former Ogra (Oil and Gas Regulatory Authority) member Muhammad Arif told DawnTv.

However, Arif has cautioned that it would take years before the country could be able to exploit its newfound fossil fuel resources, adding that exploration alone required a hefty investment of around $5 billion and it might take four to five years to extract reserves from an offshore location.

Pakistan covers 29% of gas, 85% of oil, 50% of liquefied petroleum gas (LPG), and 20% of coal requirements through imports, according to the Economic Times. Pakistan's total energy import bill in 2023 clocked in at $17.5 billion, a figure projected to rise to $31 billion in seven years, as per an Express Tribune report. The new discovery is no doubt a big boon for the struggling economy.

Since 2021, Pakistan has been hit with mounting debt and skyrocketing inflation, with inflation hitting nearly 30%. Meanwhile, the economy only expanded 2.4% in 2023, missing the 3.5% target. This has forced the country to rely heavily on foreign aid, which is often elusive. In January this year, Pakistan sought $30 billion for gas production to cut its fuel import bill.

According to Pakistan’s Energy Minister Mohammad Ali, Pakistan has 235 trillion cubic feet (tcf) of gas reserves, and an investment of $25 billion to $30 billion would be enough to extract 10% of those reserves over the next decade to reverse the current declining gas production and replace the import of energy.

The persistently high inflation could push Pakistan over the edge, "There is no precedent in Pakistan’s history of such a long and intense spell of inflation gripping the country," columnist Khurram Husain has written in Dawn.

A Game-Changer? Maybe.

Although Pakistan's hydrocarbon resources are yet to be quantified, some estimates suggest that this discovery constitutes the fourth-largest oil and gas reserves in the world. This could be a potential game-changer in the region’s energy flows.

Back in July, S&P Global Commodity Insights reported that four largely unexplored sedimentary basins in India could hold up to 22 billion barrels of oil. In effect, lesser-known Category-II and III basins namely Mahanadi, Andaman Sea, Bengal, and Kerala-Konkan contain more oil than the Permian Basin which has already produced 14 billion of its 34 billion barrels of recoverable oil reserves.

[Riaz Haq]

Why No Major Oil Company Is Rushing To Drill Pakistan's Huge Oil Reserves | OilPrice.com
https://oilprice.com/Energy/Energy-General/Why-No-Major-Oil-Company...
Rahul Chauhan, an upstream analyst at Commodity Insights, emphasized the potential of India’s unexplored Oil & Gas sector, "ONGC and Oil India hold acreages in the Andaman waters under the Open Acreage Licensing Program (OALP) and have planned a few significant projects. However, India still awaits the entry of an international oil company with deepwater and ultra-deepwater exploration expertise to participate in current and upcoming OALP bidding rounds and explore these frontier regions," he has declared.

Currently, only 10% of India’s 3.36 million sq km wide sedimentary basin is under exploration. However, Petroleum Minister Hardeep Singh Puri says that that figure will jump to 16% in 2024 following the award of blocks under the Open Acreage Licensing Policy (OALP) rounds. So far, OALP has resulted in the award of 144 blocks covering about 244,007 sq km. Under OALP, India allows upstream exploration companies to carve out areas for oil and gas exploration and put in an expression of interest for any area throughout the year. The interests are accumulated thrice a year following which they are put on auction. According to Puri, India’s Exploration and Production (E&P) activities in the oil and gas sector offer investment opportunities worth $100 billion by 2030.

So why is no one rushing to Pakistan to drill?

Shell announced it was selling its Pakistan business stake to Saudi Aramco in June last year, and an auction for 18 oil and gas blocks at the same time last year got a muted response from international bidders, at best. No international companies even bid on 15 of the blocks, according to The Nation.

In July, the country’s Petroleum Minister, Musadik Malik, told a parliamentary committee that no international companies were interested in offshore oil and gas exploration in Pakistan,and those in the country largely had the exit door in view.

It comes down to security, and risk versus reward with Malik explaining to the committee that the cost of security is a major deal-breaker because “in areas where companies search for oil and gas, they have to spend a significant amount to maintain security for their employees and assets”. And security is provided by Pakistan, which has not been up to the task.

In March this year, five Chinese engineers were killed in a suicide attack in Pakistan’s northest, when a vehicle rigged with explosives rammed into a bus transporting staff from Islamabad to the giant Dasu dam project in the Khyber Pakhtunkhwa province. The project is part of the $62-billion China-Pakistan Economic Corridor (CPEC). This incident sparked a series of temporary shut-downs across other projects, as well.

Earlier that same month, insurgents attacked Chinese assets in Pakistan’s southwest, storming the Gwadar Port Authority complex, which is run by China. The attacks were perpetrated by the Balochistan Liberation Army (BLA), separatists fighting for an independent Balochistan, as reported by the Lowy Institute.

Essentially, what this means is that it will be China or bust for Pakistan, as state-owned or state-controlled Chinese explorers have a vastly different appetite for risk. And these massive reserves are not likely to get out of the ground without Aramco showing more desire or the Chinese stepping in, for which discussions are already underway, according to Malik.

In the meantime, Iran is said to be smuggling a billion dollars in fuel into Pakistan every year, as the country’s oil and gas crisis emboldens the black market trade.

[Riaz Haq]

USGS: Pakistan Mining Industry 2019

https://pubs.usgs.gov/myb/vol3/2019/myb3-2019-pakistan.pdf

------
2018. In fiscal year 2019 (July 1, 2018, through
June 30, 2019), the mining and quarrying sector contributed
2.6% of the GDP and the growth rate of the mining and
quarrying sector was negative 1.96% compared with 7.72% in
fiscal year 2018 (International Monetary Fund, 2020; State Bank
of Pakistan, 2020a, p. 18–19; 2020b, p. 8; 2020d, p. 3).
The total import value in fiscal year 2019 was $54.8 billion
compared with $60.8 billion in fiscal year 2018. The import
value of mineral fuels, oils, and their distillation products was
$16.0 billion; iron and steel, $3.38 billion; articles of iron or
steel, $840 million; and aluminum and articles of aluminum,
$349 million. The total export value in fiscal year 2019 was
$23.0 billion compared with $23.2 billion in fiscal year 2018.
The export value of mineral fuels, oils, and their distillation
products was $477 million; salt, sulfur, lime, and stone,
$463 million; and copper and articles of copper, $269 million
(State Bank of Pakistan, 2020c, p. 123–124).

---------
In 2019, the production of lignite was estimated to have
increased by 180%; lead (mine, Pb content), by 68%; feldspar,
by 61%; chromium (mine, Cr2
O3
content), by 46%; zinc (mine,
Zn content), by 39%; talc, by 38%; lead (secondary, refinery),
by 33% (reported); soda ash, by 27%; bentonite, by 24%;
kaolin, by 17%; and sand and gravel (industrial, silica), by 12%.
In contrast, the production of fuller’s earth was estimated to
have decreased by 85%; dolomite, by 57%; bauxite, by 49%;
iron oxide pigment, by 47%; magnesite, by 39%; sulfur (native),
by 38%; pumice, by 33%; raw steel, by 30% (reported);
limestone, by 22%; iron (mine, Fe content) and phosphate rock
(gross weight), by 20% each; barite, by 15%; sand and gravel
(industrial, unspecified), by 13%; rock salt, by 12%; and quartz,

--------

Copper and Gold.—In 2019, Metallurgical Corporation
of China Ltd. (MCC) applied for an extension of its mining
license for the Saindak copper-gold mine, which was set to
expire in 2022. MCC operated the Saindak Mine through a
50%-owned subsidiary, Saindak Metals Ltd. The company
produced 13,049 metric tons (t) of copper (mine, Cu content)
in 2019, which was an increase of 4.1% from the 12,538 t
produced in 2018. MCC mined mainly the south and north ore
bodies using open pit mining; the deposits were expected to be
depleted of minable resources after 2021. The east ore body of
the mine was estimated to have 278 million metric tons (Mt)
of ore and an expected mine life of 19 years. The exports of
copper and articles thereof from Pakistan to China increased to
$550 million in 2019 from $106 million in 2016

----------

Natural Gas.—Pakistan was in the process of building five
liquefied natural gas (LNG) terminals that were expected to
start operation in 2021 or 2022. The new terminals would triple
Pakistan’s LNG imports and help lessen the gas shortage in
the country. Pakistan had been subject to shortages of natural
gas for power generation, fertilizer production, and household
usages owing to the country’s inability to supply enough gas
from domestic resources, its aged distribution network, and the
difficulty in sourcing LNG cargoes (Nickel, 2019; Abbasi, 2020;
Mohanty and others, 2021).
Petroleum.—Eni Pakistan Ltd. (owned by Eni S.p.A. of Italy,
as operator), Exploration and Production Pakistan BV, Oil and
Gas Development Co., and Pakistan Petroleum Ltd. each held a
25% interest in the Kekra-1 well of the Indus Block G. In 2019,
the consortium ended exploration at the Kekra-1 well after
no reserves of petroleum were found (Hassan, 2019; Rarrick,
2019).