Pakistan’s recoverable oil and gas reserves increased to an estimated 3.72 billion barrels of oil equivalent (BOE) by June 2026, with new discoveries and reserve upgrades helping offset declining production at several mature fields, according to Arif Habib Limited (AHL).
The country’s oil reserves rose 15 percent year-over-year to 276 million barrels in June 2026, compared with 240 million barrels in June 2025. Natural gas reserves also increased 9 percent to 20,664 billion cubic feet (Bcf) from 18,981 Bcf a year earlier.
Reserve Life Extends to Around 19 Years
The improvement in Pakistan’s hydrocarbon reserves has increased the country’s estimated overall reserve life to around 19 years.
That compares with an estimated reserve life of 15 years in June 2024 and June 2023, highlighting the impact of recent discoveries and revisions to existing field estimates.
Baragzai made the biggest contribution to the rise in oil reserves. Its reserves climbed to 49.09 million barrels, compared with 21.01 million barrels in December 2025.
Higher reserves at Mardankhel, Mamikhel South, Maramzai and Spinwam also contributed to the increase.
These gains helped offset declines at mature fields, including Nashpa, Adhi, Pasakhi/Pasakhi Northeast, Makori East, Kunar and Sono.
Gas Reserves Get Boost From New Fields
Several fields also recorded substantial increases in natural gas reserves.
Mari Ghazij posted a 74 percent year-over-year increase, taking its reserves to 1,723 Bcf. Spinwam’s gas reserves increased more than fivefold to 489 Bcf.
Higher estimates at Baragzai and Soho also helped compensate for depletion at established fields, including Sui, Kandhkot, Nashpa, Uch and Qadirpur.
New discoveries, including Spinwam, Baragzai, Bitrism East, Chakar and Faakir, collectively added 53.52 million barrels of oil and 772.97 Bcf of gas to Pakistan’s reserve base.
OGDCL and PPL Report Higher Oil Reserves
Among the major listed exploration and production companies, Oil and Gas Development Company Limited (OGDCL) recorded a 16 percent increase in oil reserves to 152 million barrels.
Pakistan Petroleum Limited (PPL) posted a larger percentage increase, with its oil reserves rising 58 percent to 33 million barrels.
Mari Energies’ oil reserves increased 5 percent to 10 million barrels, while Pakistan Oilfields Limited (POL) recorded a 5 percent decline to 14 million barrels.
Gas Reserves Show Mixed Trends
Reserve trends among the major producers were mixed on the gas side.
Mari Energies recorded a 15 percent increase in gas reserves to 6,353 Bcf. OGDCL’s reserves fell 4 per percent to 5,750 Bcf, while PPL’s declined 3 percent to 2,178 Bcf. POL’s gas reserves decreased 2 percent to 211 Bcf.
AHL estimated the remaining reserve life at 21 years for Mari Energies, 19 years for OGDCL, and 10 years each for PPL and POL.
The latest figures indicate that new discoveries and upward reserve revisions are helping Pakistan replenish part of its hydrocarbon base despite continued depletion at older producing fields.
