ISLAMABAD: Pakistan has received successful bids for offshore oil and gas exploration for the first time in two decades, marking a major step toward energy security.
According to a statement issued by the Petroleum Division, the first phase of offshore exploration will attract an investment of around $80 million, which is expected to rise to $1 billion during the drilling stage.
The announcement said 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 development of local resources.
Successful bids were received for 23 offshore blocks in the Indus and Makran basins, covering an area of 53,510 square kilometres. The Petroleum Division termed the bidding round a strong vote of confidence by investors in Pakistan’s upstream sector.
The statement further noted that the recent basin study by US-based DeGolyer and MacNaughton had indicated the presence of up to 100 trillion cubic feet of potential reserves in Pakistan’s offshore territory, which led to the launch of the Offshore Round 2025.
Major international and private companies will participate in the exploration drive, including Türkiye Petroleum, United Energy, Orient Petroleum, and Fatima Petroleum, in partnership with local firms such as OGDCL, PPL, Mari Energies, and Prime Energy.
The Petroleum Division said the successful bidding round reflects growing international interest in Pakistan’s offshore potential.
It may be recalled that on July 31, 2025, former US President Donald Trump had said: “We have just signed an agreement with Pakistan under which both countries will jointly develop Pakistan’s vast oil reserves. We are in the process of selecting the oil company that will lead this partnership.”
Earlier, Pakistan, with the cooperation of a friendly country, had conducted a three-year offshore survey confirming the presence of substantial oil and gas reserves.
On September 8, 2025, retired Navy Rear Admiral Fawad Amin Baig also said that the Pakistan Navy, with China’s assistance, had located gas reserves beneath the seabed.