Pakistan revives offshore oil, gas exploration after 18 years

Pakistan revives offshore oil, gas exploration after 18 years

The Ministry of Energy on Friday announced the results of the Offshore Bid Round 2025, a major initiative to boost petroleum exploration in Pakistan after an 18-year hiatus. The round offered 40 offshore blocks, with potential investments estimated up to USD 1 billion through exploration drilling. The Offshore Bid Round 2025 offered 40 offshore blocks for petroleum exploration. Bids were submitted for 23 blocks, covering an area of approximately…

Govt awards 23 offshore oil exploration blocks after 18 years

The federal government on Friday said it has awarded 23 offshore exploration blocks to four consortiums led by local energy companies, some partnered with foreign firms, including Turkiye’s national oil company Turkish Petroleum Corporation (TPAO), after an 18-year gap. A recent basin study conducted by the US firm DeGolyer and MacNaughton (D&M) has indicated a significant yet-to-be-found potential of hydrocarbons in Pakistans offshore basins. B…

Govt awards offshore oil exploration blocks after nearly two-decade gap

The Ministry of Energy on Friday announced that the country has awarded 23 offshore exploration blocks to four consortia, in the first bidding round after 18 years.In a statement, the energy...

Pakistan awards 23 offshore oil exploration blocks after 18-year gap

First offshore bidding round by Pakistan since 2007.Four local-led consortia win exploration rights.Turkish national oil company TPAO among foreign partners.Pakistan has said that it has awarded 23 offshore exploration blocks to four...

Pakistan awards 23 offshore exploration blocks in first bidding round

ISLAMABAD: Pakistan on Friday announced the results of its first offshore bidding round in nearly two decades, awarding 23 exploration blocks to four consortiums led by local energy companies in a renewed push to unlock the country’s untapped hydrocarbon reserves. The Offshore Bid Round 2025, launched in January after an 18-year gap, attracted bids covering about 53,500 square

Pakistan awards 23 offshore oil blocks, revives exploration after 18 years

In a major step toward energy revival, Pakistan has awarded 23 offshore oil exploration blocks to four consortia led by local energy companies, ending an 18-year gap since the country last held an offshore bidding round. The announcement came from the Ministry of Energy on Friday, marking Pakistan’s first such offering since 2007. According to the ministry, the successful bidders pledged $80 million in initial exploration work over the next thre…