ISLAMABAD: According to a statement issued by the Petroleum Division, Pakistan has achieved a major breakthrough in offshore oil and gas exploration after 20 years, in line with Prime Minister Shehbaz Sharif’s vision for energy security and the development of local resources.
The statement revealed that Pakistan has received successful bids for offshore oil and gas exploration for the first time in two decades.
In the initial phase of licensing, an investment of around 80 million USD will be made in offshore exploration, which could increase up to 1 billion USD during the drilling phase.
The Petroleum Division stated that successful bids have been received for 23 offshore blocks.
The bidding round covers an area of approximately 53,510 square kilometers and is expected to boost Pakistan’s economy significantly.
The exploration strategy in both the Indus and Makran basins has proved successful.
The Petroleum Division further noted that this achievement reflects the growing confidence of investors in Pakistan’s upstream sector.
An American firm, DeGolyer and MacNaughton, recently estimated that Pakistan’s offshore reserves may contain up to 100 trillion cubic feet of natural gas.
Based on this potential, the Offshore Bidding Round 2025 was launched, resulting in major success.
Leading international and private companies, including Turkiye Petroleum, United Energy, Orient Petroleum, and Fatima Petroleum, have joined as joint venture partners.
Among the successful Pakistani bidders are OGDCL, PPL, Mari Energies, and Prime Energy, showcasing the rising international interest in Pakistan’s offshore potential.
It is worth mentioning that on July 31, 2025, former U.S. President Donald Trump announced that the United States and Pakistan had reached an agreement to jointly develop Pakistan’s vast oil reserves, and that the process of selecting the leading oil company for this partnership was underway.
