Over the weekend, news came that the latest attempt to search for oil and gas reserves in Pakistan’s territorial waters was being called off.
And none other than Prime Minister Imran Khan had fueled those hopes even though it was only an exploratory well and the consortium led by Italy’s ENI had days to go before confirming anything. “It’s like playing a 5-day long test cricket match and announcing a winner on basis of the first inning,” he toldThis was the 18th offshore well drilled in a region known as Indus delta, which is located in Pakistan’s territorial waters in the Arabian Sea. All previous attempts have so far failed to yield commercially viable reserves.
Pakistan also faces an energy crisis where shortage of gas and electricity often hits households and factories. “Even if they had found something, it would have taken at least seven years to monetise it. Then there was also the question about its commercial viability.” False hopes and disappointment has now led way to conspiracy theories about the $100 million project.
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