Karachi: The oil and gas sector reported significant developments in May 2026, with notable hydrocarbon discoveries and an increase in production levels. The sector saw two hydrocarbon discoveries and a marked rise in both oil and gas production on a year-over-year basis.

According to JS Global, the discoveries were made at Mari 128H, operated by MARI, and Rehman-9, operated by POGC. Oil production increased by 18% compared to the previous year, while gas production rose by 10%, attributed to disruptions in RLNG supply. On a month-over-month basis, oil production rose by 7%, although gas production experienced a slight decline of 1%.

Exploratory efforts showed a 100% increase in exploratory well drilling, accompanied by a 7% growth in development well drilling. However, there was a reduction in seismic acquisition activities, with 2D and 3D seismic acquisitions declining by 46% and 2%, respectively.