Pakistan on Thursday awarded 11 onshore oil and gas exploration blocks to leading domestic and private sector firms, securing a minimum committed investment of $31 million (around Rs8.66 billion) over the next three years, along with over Rs276 million pledged for social welfare initiatives.
The Petroleum Division signed Petroleum Concession Agreements (PCAs) and Exploration Licences (ELs) for the blocks at a ceremony held in Islamabad, attended by Federal Minister for Petroleum Ali Pervaiz Malik.
Of the 11 blocks, eight are located in Balochistan, two in Sindh and one in Punjab, marking a renewed push to accelerate upstream exploration and reduce reliance on imported fuels.
The successful joint venture partners include Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), Mari Energies Limited, Pakistan Oilfields Limited (POL) and Prime Global Energies.
Addressing the ceremony, the minister termed the signing a significant milestone in the government’s efforts to boost domestic exploration, attract fresh investment and enhance energy security.
He said the agreements reflected strong investor confidence in Pakistan’s upstream potential and expressed optimism that recent discoveries would pave the way for further development and production activities.
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Mari Energies will operate six blocks, holding 100% working interest in Padag, Chagai, Dalbandin, Merui and Merui West, and leading the Ahmad Wal block with a 60% stake in partnership with OGDCL (40%).
OGDCL will operate three blocks, including Kalat North with 100% working interest. It will also lead Naing Sharif with a 70% stake (Prime 30%) and Khiu-II with 60% interest (Mari Energies 40%).
PPL emerged as the highest bidder for Kalat South and will operate the block with a 40% working interest, alongside OGDCL (30%) and Mari Energies (30%). POL secured the Jherruk block with 100% working interest.
The Petroleum Division said that in case of commercial hydrocarbon discoveries, additional investments running into millions of dollars are expected for field development and production, potentially generating employment and stimulating economic activity in the respective regions.
The minister reiterated the government’s commitment to providing a stable and investor-friendly environment to support sustainable development of indigenous energy resources.
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