Government Seeks to Boost Foreign Investment in Oil and Gas Sector, Senate Informed

Islamabad: Today, the Senate was briefed on the government’s active pursuit to attract foreign investment into Pakistan’s oil and gas exploration sector.

According to Ministry of Information and Broadcasting, Minister for Petroleum Musadik Malik, during Question Hour, emphasized the government’s commitment by outlining the successful completion of four bidding rounds over the past four years. These rounds resulted in thirty-three blocks being awarded to various exploration and production companies, with international firms involved in seven of these blocks.

Malik further revealed that the government is finalizing offshore bidding for twenty-four additional blocks and is implementing a unified pricing mechanism for gas supplied to all fertilizer companies to ensure equitable costs.

The session was adjourned and is scheduled to reconvene tomorrow at 4:00 PM.

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