20 new oil & gas exploration blocks: Petroleum Division planning to hold open bidding by year-end

The Petroleum Division of Energy Ministry is planning to hold open bidding for 20 more new oil and gas exploration blocks by the year-end, aimed at making the country self-sufficient in energy.

The government is also preparing a summary for creation of new oil and gas exploration blocks in potential areas of erstwhile Federally Administered Tribal Areas (FATA) and Balochistan, which would be presented before the Council of Common Interests for approval.

The country has been divided into four zones, consisting of West Balochistan-Pishin-Potowar Basins, Kirthar, East Balochistan-Punjab platform-Suleman Basins, Lower Indus Basins and Indus & Makran Basins.

The new zone is considered high security risk area, but now after the improved situation, these parts of the country are being added in potential hydrocarbon reserves under a sufficient security mechanism.

The oil and gas exploration and production (E&P) companies are planning to start work on some exploration blocks, which faced delay due to security issues in different areas of Balochistan, to find new hydrocarbon deposits and meet ever-growing energy needs of the country.