Finance and Revenue Minister Senator Muhammad Aurangzeb on Friday said the government has made significant progress in the exploration of oil and gas resources, achieving key milestones in the sector.
Pakistan makes progress in oil and gas exploration: Finance Minister
ISLAMABAD, Jun 12 (APP): Finance and Revenue Minister Senator Muhammad Aurangzeb on Friday said the government has made significant progress in the exploration of oil and gas resources, achieving key milestones in the sector.
Presenting the Budget 2026–27 in the National Assembly, he said Pakistan had, after two decades, successfully awarded 24 offshore exploration blocks to national and international exploration and production (E&P) companies.
He termed it a major milestone in the country’s offshore oil and gas exploration history.
He further said Türkiye’s state-owned oil company TPAO has entered Pakistan’s offshore sector through partnerships with local firms, reflecting growing international cooperation in the energy sector.
The minister said investment in the E&P sector during FY2025–26 is expected to exceed $1 billion.
He added that 17 new oil and gas discoveries were made during the period, contributing an additional 108 mmcfd of gas and around 16,000 barrels per day of oil to indigenous production.
He further said production enhancement measures had brought an additional 229 mmcfd of gas and 13,000 barrels of oil into the national system, strengthening domestic energy supplies.
