Pakistan announces auction of offshore and onshore exploration blocks

Pakistan has announced to auction 40 new offshore blocks and 31 onshore blocks, Federal Minister for Petroleum Dr. Musadik Malik said at the annual technical conference.

Speaking at the event, Malik emphasized that a significant portion of the country's resources remains undiscovered, presenting lucrative investment opportunities for international investors. "We will provide all necessary facilities for investors," Malik said.

Shell and tight gas reserves are among the resources available for exploration. Malik outlined a new deregulation policy that will open the oil sector with price caps. "Introducing technology once is not enough to change the country's fate," he said. "Continuous innovation is needed, and the oil sector must shift to modern technology."

The Prime Minister's vision is for Pakistanis to live dignified lives, Malik stated. "When the youth have self-confidence that they can achieve, the country will progress. We must create confidence that we are also a nation. Our focus should be on development rather than conflicts."

Ensuring energy supply for all is a critical part of Pakistan's strategy, with a current focus on reducing energy prices for the poor. Malik also highlighted efforts to address the environmental impact of energy production and utilization of local resources. "We are working extensively on electrification," he said.

Malik emphasized the need for government reform, stating, "The government needs to step out of business. The way the government works needs to change."

Pakistan’s weekly oil and gas production report for the period ending 7th February 2025 indicates a notable decline in both oil and gas outputs.

Total oil production decreased by 4.2% week-over-week to 63,747 barrels per day (BPD), primarily due to a significant 23.5% drop in production from OGDC’s Nashpa field.

Similarly, total gas production saw a substantial reduction of 11.3%, falling to 2,721 million cubic feet per day (MMCFD). This decline was largely attributed to lower offtakes from the Mari field, which decreased by 9.7% due to an ATA (Authorized Temporary Absence) at FFC FPCDL.