Get the latest news and updates from Dawn
ISLAMABAD: For the first time in nearly 20 years, the government on Wednesday awarded two dozen offshore blocks for exploration, attracting an initial investment of $82 million during the first phase of a three-year licensing period.
According to an official statement from the petroleum ministry, the total investment is projected to reach $1 billion if exploration activities progress to the second phase.
Petroleum Minister Ali Pervaiz Malik witnessed the signing of production sharing agreements (PSAs) and exploration licences (ELs) for blocks awarded in the Offshore Bid Round 2025, marking the formal reopening of the country’s maritime frontier after nearly two decades.
The awarded blocks are located in the Indus and Makran offshore basins, adjoining the territorial waters of Sindh and Balochistan. The round attracted bids covering approximately 54,600 square kilometres of the country’s offshore area, resulting in the award of 23 blocks, according to an official press release.
