Pakistan has invited the United States to invest in its offshore and onshore oil and gas reserves, aiming to attract billions of dollars in foreign investment and boost the country’s energy security.
According to sources in the Ministry of Petroleum, Pakistan has opened bidding for 40 offshore exploration blocks.
Each block requires a minimum investment of $150 million, bringing the total potential investment capacity to nearly $6 billion.
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The bidding for offshore blocks will open on October 31, with authorities hopeful that American companies will participate in the process.
Onshore reserves also up for bidding
Alongside offshore projects, Pakistan has also offered 23 onshore blocks for oil exploration. A minimum of $65 million is required per block, while successful bids across all sites could generate up to $1.5 billion in investment.
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The bidding for onshore reserves is scheduled to open earlier, on October 10.
Foreign interest and local partnerships
So far, Turkish Petroleum Company has expressed interest in offshore exploration, though no US company has publicly confirmed participation yet. To strengthen its own position, Pakistan has already formed a consortium of three local firms, including OGDCL.
Talks with Washington are ongoing, with Islamabad hoping to bring in US companies as strategic partners in both offshore and onshore projects.
