Pakistan Awards 11 Oil Exploration Blocks For Investment

On February 26, 2026, Pakistan awarded 11 onshore oil and gas exploration blocks to various domestic and private sector firms, securing a minimum investment commitment of approximately $31 million (around Rs8.66 billion) over the next three years. This initiative aims to enhance domestic energy production and reduce reliance on imported fuels. Federal Minister for Petroleum Ali Pervaiz Malik described the agreements as a "significant milestone" in the government's strategy to boost local exploration and attract fresh investment, stating that the agreements reflect "strong investor confidence in Pakistan’s upstream potential." The awarded blocks include eight in Balochistan, two in Sindh, and one in Punjab, with a total of Rs276 million pledged for social welfare initiatives in the respective areas, highlighting the government's commitment to community development alongside resource exploration (Business Recorder, Profit Pakistan, ARY News).