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Discovery of Oil Reservoirs in Pakistan

April 2, 2019

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Discovery of Oil Reservoirs in Pakistan

Zahid ImranbyZahid Imran
April 2, 2019
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Shahid Jameel

It is a well-established fact and beyond the shred of doubt that China has emerged as a bigger economy in the arena of world stage. In the meantime, China has also fractured ascendancy of the US among the comity of nations. With each passing day, the relationship between China and Pakistan is further cemented into high level of strategic partnership with a unified vision of shared future for the regional peace and process as Pakistan’s Foreign Minister concluded his official visit to Beijing to attend the first ever Pakistan-China Foreign Minister’s Strategic Dialogue. As our Prime Minister will be visiting China to attend the second Belt and Road Forum for International Cooperation to be held in Beijing in the last week of April. The talks hold important place in the overall ongoing development programs and other elements of bilateral relations between Pakistan and China.
CPEC is the key example to revitalize the traditional Silk Road and to bring into vogue OBOR. For Pakistan, CPEC is of immense significance and it will enable the country to vitalize the economic potential of the country. The energy projects under CPEC include Gwadar power plant, HUBCO power plant, Hub Balochistan, Rahim Yar Khan Coal power plant, Quaid-e-Azam Solar park, 50MW Dawood Wind Farm in Bhambore, 100MW wind farm in Jhimpir, 50MW wind farm in Sachal, Suki Kinari power plant, Karot Hydropower Project and Kohala Power project to address the energy deficiency of the country.
Recently, there are some good news in circulation about a big oil discovery in Pakistan. According to the Chinese newspaper “Global Times”, “Pakistan may soon hit the big oil discovery and that will be good news for not only the country itself but all the South Asia as well as China and Gulf nations”. If this prediction comes true, the discovery will help the country to tackle its economic problems. The US oil giant EXXON Mobil and Italy’s ENI have been involved in drilling an ultra-deep oil well.
There would be more international companies wanting to participate in related projects ranging from exploration to refining and logistics. The related investment will help the country to maintain its growth momentum. As already discussed, China has sound cooperation in energy with Pakistan. A big oil find would stimulate investment enthusiasm among Chinese companies.
Pakistan and China appeared to be concerned about the whole region and not only towards bilateral issues covering Afghanistan and India. It is the manifestation of shared philosophy of multilateralism, be it economy, security or politics in which China believes and Pakistan acknowledges. Pakistan offers India to negotiate on core issues including Kashmir and Terrorism, facilitating Afghan Peace Process, inviting other countries to join hands in CPEC to mutually coexist, develop and prosper. Both China and Pakistan have much to offer to the region with support to peace and prosperity in the region.
Whereas, as per Modi’s anti Pakistan declared policy, India was struggling to isolate Pakistan at regional and world levels. However, as India got disappointed to observe that due to the construction of the CPEC, Pakistan was getting popular at the regional and world levels and Indian efforts of isolating Pakistan were failing, it started opposing the CPEC out of frustration. Indian leaders should now realize that it is harmful to go against the tide and any negativity played against Pakistan would cost a lot to India. Therefore, it is better that India should give up its negative politics being played against the CPEC and instead of opposing the project, it should decide to join for drawing the related major economic benefits. Prior to this, India should resolve the Kashmir dispute on a permanent basis so that South Asian countries could focus on their economic development through intra regional and inter regional integration through CPEC.

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