As per the Chinese media, Pakistan might soon find oil reserves, and that would indeed be good news not just for the country itself but for the entire South Asian nations including China and the Gulf countries.
An informal conversation was held between the journalists and PM Imran khan according to the conversation details the discovery of a big oil reserve is possible beneath Pakistan’s waters.
If this prediction goes correct, it would be a great help for the South Asian countries and also for Pakistan as it would help Pakistan in handling the economic problems.
As per foreign media, if the oil reserves are discovered in actual then Pakistan would be in immediate need of foreign investment.
US oil giant Exxon Mobil and ENI of Italy have been drilling a deep oil well since January, according to the local media report.
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As per the Chinese media, many more countries are willing to take part in projects related to exploration, refining, and logistics. Pakistan’s growth would get a boost with the related investment.
The opinion piece of Global Times declared that China and Pakistan enjoy sound ties in the energy division. It further said that a massive oil discovery would further boost investment enthusiasm among Chinese firms. China is all ready to support Pakistan if any such development opportunity surfaces.
It further stated that the bases of the China-Pakistan Economic Corridor (CPEC) was a strategic project with oil and gas pipeline connections, and if massive oil reserves are discovered by Pakistan, that would be a huge motivation for extending the pipeline network of Pakistan further into Iran and India, and also to boost the energy cooperation with the Gulf countries like Saudi Arabia.
It stated that the potential discovery of oil reserves in Pakistan would increase the attractiveness of Indian firms, as the oil imports are ever increasing in India owing to the higher fuel demand despite the bilateral issues.
The Chinese article termed the potential oil reserves of Pakistan as a game changer and hoped that India and Gulf countries would not ignore the opportunities for boosting the energy cooperation with Pakistan and assist in nurturing an energy network in Asia.