Pakistan's Offshore Energy Boost: $1B Investment
Update: 2025-11-05
Description
Pakistan's energy sector receives a significant boost with the successful bidding of twenty-three offshore oil blocks, marking the first bidding round in eighteen years. Four consortiums, including local companies and Turkey's national oil company, secured these blocks, committing an initial eighty million dollars for exploration. The total investment could reach up to one billion dollars, covering fifty-three thousand five hundred square kilometers. This move is crucial for Pakistan's goal of increasing domestic oil and gas production to reduce energy imports and improve energy security.
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