Pakistan has formally invited the US to invest in its oil and gas reserves. The government aims to attract billions in foreign investment and improve the country’s energy security.
According to the Ministry of Petroleum, Pakistan has opened bidding for 40 offshore oil and gas blocks. Each block needs a minimum investment of $150 million. In total, these projects could bring in nearly $6 billion.
Bidding for the offshore sites will begin on October 31. Authorities hope US companies will take part in the process.
In addition to offshore areas, Pakistan has also announced bidding for 23 onshore oil exploration blocks. Each onshore block requires at least $65 million. If all blocks are awarded, the total investment could reach $1.5 billion.
The bidding for onshore projects is scheduled to open earlier, on October 10.
So far, Turkish Petroleum Company has expressed interest in offshore exploration. No US company has confirmed its participation yet. However, Islamabad is actively engaged in talks with Washington to encourage investment.
To support the initiative, Pakistan has formed a consortium of three local companies, including the Oil and Gas Development Company Limited (OGDCL). These firms will partner with international companies to develop the projects.
Officials believe that investment from the US would not only bring advanced technology but also build stronger energy ties between the two countries. It would also help Pakistan reduce its reliance on imported fuel and support its growing energy needs.
The government has promised full support to foreign companies, including legal guarantees and tax benefits.
These projects are a key part of Pakistan’s strategy to develop local energy resources and strengthen international partnerships in the energy sector.
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