Pakistan has awarded 11 onshore oil and gas exploration blocks, marking a significant step in the country’s energy development efforts.
A signing ceremony for petroleum concession agreements and exploration licenses was held in Islamabad, attended by Federal Minister for Petroleum Ali Pervaiz Malik.
The agreements are expected to attract an investment of 8.66 billion rupees in oil and gas exploration over the next three years, with an additional 276 million rupees allocated for social welfare initiatives in the surrounding communities.
The awarded blocks have been allocated to OGDCL, Pakistan Petroleum Limited, My Energies, Pakistan Oilfields Limited, and Prime Global Energies.
Speaking at the event, Minister Ali Pervaiz Malik described the signing as a key milestone in the government’s efforts to explore local resources and attract investment. He added that the agreements reflect investor confidence in Pakistan’s upstream sector and its potential for growth.
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