Pakistan Awards Successful Offshore Oil and Gas Exploration Bids After Two Decades

Oil and Gas Exploration Bids After Two Decades / Photo File (@MansurQr)

After nearly twenty years, Pakistan has successfully concluded bids for offshore oil and gas exploration — a development hailed as a major step toward strengthening the country's energy and economic sectors.

According to a statement issued by the Petroleum Division, the first phase of licensing is expected to attract investments worth around $80 million, while the total investment could reach $1 billion during the drilling phase.

The division confirmed that 23 offshore blocks have received successful bids, marking the completion of a highly competitive bidding round that officials say will bring significant economic benefits. The exploration areas cover an estimated 53,510 square kilometers, mainly in the Indus and Makran basins, where a dual exploration strategy has proven effective.

The statement further revealed that a recent U.S. geological study suggested the presence of up to 100 trillion cubic feet of potential gas reserves beneath Pakistan’s coastal waters. Building on this assessment, the Offshore Exploration Round 2025 was launched — now seen as a major success that could reshape Pakistan’s energy landscape.