Pakistan opens 71 new blocks for oil, gas exploration after a decade

Federal Minister for Petroleum, Dr. Musadik Malik, announced on Tuesday that Pakistan has opened 40 offshore and 31 onshore blocks for oil and gas exploration, marking the first such initiative in a decade, APP reported.

Speaking at the 30th Annual Technical Conference and Oil Show, Malik emphasized that a significant portion of Pakistan’s natural resources remains untapped and urged international investors to seize the opportunities in these newly available blocks.

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“Pakistan is open for business, and we will provide all necessary facilitation to investors,” he assured.

The minister outlined the government’s three-pillar strategy for advancing the energy sector: Access to Energy, Provision of Affordable Energy, and Sustainability of Energy.

To achieve these goals, the government is focusing on indigenization, electrification, and liberalization.

Malik also shared plans to introduce a deregulation policy and price capping mechanism to open up the oil sector, stressing that technological advancement alone is insufficient for sustainable progress.

“Continuous innovation is essential for sustainable progress,” he added.

Highlighting the need for modern technology in the oil sector, Malik stated that Prime Minister’s vision is to improve the quality of life for Pakistanis.

“Prosperity will not come by simply introducing one machine; for sustainable growth, we must engage in science and research ourselves,” he said.

The minister reiterated the government’s commitment to reducing energy prices for the underprivileged and minimizing the environmental impact of energy consumption.

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Malik also pointed out Pakistan’s untapped shale and tight gas reserves, emphasizing the importance of utilizing domestic resources.

“We are utilizing domestic resources for energy,” he explained, adding that significant progress is being made in electrification.

He called for a shift in working methods, stating, “We need to change our working methods, as Pakistan has immense potential.”

The minister highlighted the need to instill confidence in the youth, encouraging them to believe in their capabilities.

“We must focus on progress rather than conflicts,” he emphasized, reaffirming that ensuring energy access for all remains a key priority for the government.