By S.M. Inam
ISLAMABAD: Pakistan has taken a major step to strengthen its energy sector by awarding 11 onshore blocks for oil and gas exploration. The Ministry of Energy, Petroleum Division, announced the deals on Thursday, highlighting efforts to increase domestic energy output and attract new investment.
The signing ceremony for the Petroleum Concession Agreements and Exploration Licences was held in Islamabad, with Minister for Petroleum, Ali Pervaiz Malik, senior officials, and industry representatives in attendance. The agreements are projected to bring 8.66 billion rupees in investment over the next three years, along with 276 million rupees allocated for social welfare initiatives in communities near the exploration sites.
The 11 blocks were awarded to a combination of domestic and publicly listed companies, including the Oil and Gas Development Company Limited, Pakistan Petroleum Limited, Mari Energies Limited, Pakistan Oilfields Limited, and Prime Global Energies. Eight blocks are in Balochistan, two in Sindh, and one in Punjab.
Minister Malik described the agreements as a milestone in tapping Pakistan’s domestic resources and enhancing energy security. He said the deals reflected strong investor confidence in the country’s oil and gas potential and reaffirmed the government’s dedication to a stable, investor-friendly exploration environment.
The minister also emphasized that the exploration projects would boost local energy production, create jobs, and generate economic benefits for nearby communities. Companies are expected to engage in social welfare programs alongside financial investment, supporting sustainable development and community well-being.
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