Islamabad: In a major development toward the utilization of domestic energy resources, Pakistan has received successful bids for 23 offshore exploration blocks — marking the country’s first such progress in two decades.
According to officials, the bids cover a total area of 53,510 square kilometers in the Arabian Sea. This initiative aims to explore new oil and gas reserves off Pakistan’s southern coast.
Authorities said that in the initial phase, investment is expected to reach USD 80 million, with total spending potentially rising to USD 1 billion during the drilling stage.
Officials noted that the simultaneous exploration strategy in the Indus and Makran basins has proven effective, reflecting renewed investor confidence in Pakistan’s upstream energy sector.
The list of successful bidders includes several leading local and international companies, such as OGDCL, PPL, Mari Energies, Prime Energy, Turkiye Petroleum, United Energy, Orient Petroleum, and Fatima Petroleum.
Experts believe that if the exploration yields positive results, it could significantly reduce Pakistan’s dependence on imported energy and strengthen the country’s economic resilience.
