KARACHI: Pakistan has discovered three new fresh sources of oil and gas amid US-Israel war on Iran which has jolted whole world from energy perspective.
Topline Securities has issued its latest Oil and Gas Exploration Alert, summarising activity across Pakistan for March 2026. The report points to three new hydrocarbon discoveries while noting a decline in overall production. Industry players are watching closely as the sector balances fresh finds with operational challenges.
Three Successful Discoveries Spark Optimism
The month saw three notable hydrocarbon discoveries. Mari Petroleum Company (MARI) struck success at Shams-1, while Oil & Gas Development Company (OGDC) announced finds at Baragzai X-1 and Sahito-1.
These additions are expected to support future reserves and strengthen local energy supply. In contrast, one dry well was reported — Pario-1 in the Sujawal block, fully operated by MARI. Despite the setback, the discovery count remains positive for the sector.Production Declines but Recovery Signals Emerge
Crude oil production stood at 60.7k barrels per day, down 9% month-on-month and 2% year-on-year. Natural gas output fell to 2,732 million cubic feet per day, registering a 12% MoM decline and a marginal 0.1% YoY drop.
LPG production was recorded at 2,116 tons per day, up 7% MoM but down 3% YoY. Weekly trends, however, suggest flows may rebound soon due to recent disruptions in RLNG supply.
Province-wise, Khyber Pakhtunkhwa led oil output at 61%, followed by Punjab at 32%. For gas, Sindh dominated with 65%, while Balochistan contributed 22%.Analysts believe the discoveries and expected production recovery could ease pressure on imports and support the country’s energy needs in the coming months.