The United States and Pakistan have signed a new agreement to work together on developing Pakistan’s oil reserves. US President Donald Trump announced the deal, saying that both countries will cooperate in exploring the country’s massive oil potential. He also added that the US is in the process of selecting the oil company that will lead this project.
Trump made this announcement on his social media platform, Truth Social. He said that one day, Pakistan might even sell oil to India. The statement has gained attention as it hints at a broader economic vision for the region.
Pakistan’s Foreign Minister, Ishaq Dar, confirmed the agreement. He said that the deal will lead to lower tariffs on Pakistani goods exported to the United States. This is expected to benefit Pakistan’s exporters and strengthen trade relations.
The Pakistani government also said the deal will attract more US investment in Pakistan’s infrastructure and development projects. Officials believe this could improve roads, energy facilities, and other key areas across the country.
In addition to oil, the agreement will also focus on other sectors like energy, mining, IT, cryptocurrency, and digital innovation. This could create new jobs and bring advanced technology to Pakistan.
According to US trade data, total goods trade between the US and Pakistan was about $7.3 billion in 2024, up from $6.9 billion in 2023. However, the US still had a trade deficit of $3 billion with Pakistan, which rose by 5.2% compared to the previous year.
This new deal is being seen as the beginning of a stronger economic partnership between the two countries. It may open doors for more trade, investment, and collaboration in the coming years.
New Oil & Gas Discovery in Sindh Adds to Pakistan’s Growing Energy Finds
Pakistan’s Oil & Gas Development Company Limited (OGDCL), in partnership with Government Holdings (Private) Limited (GHPL), has made another significant oil and gas discovery at its Faakir-1 well, located in the Khairpur district of Sindh. The well, drilled to a depth of 4185 meters on the Bitrisim exploration block, uncovered hydrocarbons in the Sembar formation. Production tests from the Lower Goru formation showed the well is yielding 6.4 million cubic feet of gas and 55 barrels of condensate per day. OGDCL operated the project with a 95% working interest, while GHPL held the remaining 5%.
This is one of several discoveries made by OGDCL in the past year. In Khyber Pakhtunkhwa’s Lakki Marwat, the company previously discovered gas and condensate with initial flows of 2.114 million cubic feet of gas and 74 barrels of oil per day. Another major find occurred in Attock, Punjab. Additionally, in September last year, Pakistan announced the discovery of large offshore oil and gas deposits following a three-year survey. A senior security official then noted that these underwater reserves could play a major role in developing a ‘blue water economy’ and strengthening the national economy.
These developments are part of Pakistan’s broader efforts to reduce energy imports and meet local demand through domestic resources. Globally, Venezuela currently holds the largest proven oil reserves at over 300 billion barrels, followed closely by Saudi Arabia with more than 295 billion barrels.
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