Pakistan has received successful bids for offshore oil and gas exploration for the first time in two decades, with an initial investment of approximately $80 million expected in the first phase. The total investment could rise to $1 billion during the drilling process.
According to a statement issued by the Petroleum Division, this milestone aligns with Prime Minister Shehbaz Sharif’s vision for energy security and local resource development, marking a major success in Pakistan’s offshore oil and gas sector after 20 years. The bidding round covered 23 offshore blocks, spanning nearly 53,510 square kilometers across the Indus and Makran basins.
The statement highlighted that the successful round reflects strong investor confidence in Pakistan’s upstream sector. A recent basin study by Degleuer & McKenna had indicated potential reserves of 100 trillion cubic feet in Pakistani waters, prompting the launch of the Offshore Round 2025, which has now yielded positive results.
Several international and domestic companies will participate in exploration, including Turkiye Petroleum, United Energy, Orient Petroleum, Fatima Petroleum, and local firms OGDCL, PPL, Mari Energies, and Prime Energy as joint venture partners.
The successful bidding round is expected to significantly boost Pakistan’s economy, promote energy self-sufficiency, and reflect growing international interest in the country’s offshore potential.
It is noteworthy that news of Pakistan’s vast offshore oil and gas reserves was first reported by Dawn News in September 2024, following a three-year survey conducted in collaboration with a friendly country.
