August 10, 2026
Ali Pervaiz Malik says Turkish Petroleum will soon begin offshore drilling in Pakistan's territorial waters. He put import dependence at about 90 per cent of energy needs, with domestic output near 70,000 barrels a day against demand of about 500,000.
Drone view of a pump jack and drilling rig south of Midland, Texas, United States. — Reuters/File A PPL official says the project is inspired by Abu Dhabi’s drilling. The company plans to complete construction of the island in February. PPL plans to drill up to 25 wells on the island. Pakistan plans to build an artificial island off the coast of Sindh to boost its oil exploration work as the country seeks to maximize the use of its natural resources. Islamabad has stepped up its drilling efforts after US President Donald Trump expressed interest in the country’s oil reserves
A general view of Equinor’s Johan Sverdrup oil rigs in the North Sea, Norway. — Reuters/File First round of offshore bidding from Pakistan since 2007. Four local consortiums win exploration rights. Turkish national oil company TPAO among foreign partners. Pakistan said it has awarded 23 offshore exploration blocks to four consortiums led by local energy companies, some of which work with foreign companies, including Turkey’s national oil company TPAO. In Pakistan’s first such bidding round in nearly two decades, the Energy Ministry said on Friday that bids had been awarded for 23 of the 40 offshore blocks on offer, covering
A representational image showing Equinor’s oil platform in the Johan Sverdrup oil field in the North Sea. — Reuters/File I cannot determine the size of the reserves until the discovery of sources of oil, natural gas. They say data from the geological survey is currently being studied. The Petroleum Directorate will conduct auctions in the first quarter of next year. Islamabad: As Pakistan struggles to meet its growing fuel and energy needs, Petroleum Department sources said Geo News on Saturday that the discovery of oil and gas reserves in the country’s territorial waters could only be confirmed after proper exploration.
ANCHOR: Turkey is set to boost its naval presence in Somali waters after an agreement between the two nations for Ankara to send an exploration vessel off the coast of Somalia to find oil and gas. President Tayyip Erdogan submitted a proposal to the Turkish parliament late Friday, seeking permission to deploy Turkish military forces, including naval support, in Somali territorial waters, state-run Anadolu news agency reported. The development follows the Turkish Energy Ministry’s announcement that an exploration vessel will be dispatched later this year as part of a hydrocarbon cooperation agreement. The deal, signed Thursday in Istanbul, grants Turkey
Prime Minister Shehbaz Sharif presides over a meeting in Islamabad. — APP/File Oil and gas companies meet PM Shehbaz to discuss investments. Prime Minister forms high-level committee to address E&P sector issues. It secures the E&P sector for complete investment and profit security. ISLAMABAD: A group of local and international oil and gas exploration and production (E&P) companies are poised to pump $5 billion into Pakistan’s oil sector, showing confidence in the government’s investor-friendly policies and assurances of the safety of their capital, according to the state -run APPLICATION. An announcement to this effect came to light at a meeting
Islamabad: Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest hydrocarbon explorer, has targeted 20 major fields, mainly in the north and south, to boost production and help overcome the country’s energy crisis. Due to increasing demand for natural gas, Pakistan is more reliant on imported liquefied natural gas (LNG), as its share has increased to 24% in the energy mix. However, in many countries, the share of imported natural gas is only 6%, which serves as a stopgap arrangement. Pakistan’s increasing dependence on imported gas has come in the face of low exploration activity domestically. Now, OGDCL has taken
Islamabad: Exploration and production (E&P) companies are set to invest $33.3 million over the next three years in eight blocks to search for hydrocarbon reserves in a bid to overcome the country’s energy crisis. These companies on Wednesday signed petroleum concession agreements (PCAs) with the government and got exploration permits. The exploration blocks awarded to the Oil and Gas Development Company (OGDC) were Kotra East (2,867-8), Murradi (2,767-7), Sehwan (2,667-19) and Zindan-II (3,271-9). Pakistan Oilfields Limited (POL) got Multanai block (3,168-3), while Sawan South (2,668-26) went to United Energy Pakistan Limited (UEP) – a Chinese E&P company. Gambat-II block (2,668-25)
KARACHI: IT consultants and experts urge a strategic exploration of new and non-traditional markets, particularly the Gulf Cooperation Council (GCC) countries. The aim is to attract foreign direct investment (FDI) and boost exports in the field of Information Technology (IT) and IT-enabled services. Many leading companies have already established their presence in these markets by setting up regional and representative offices to increase exports of IT services to these countries. This move should be followed by different IT companies and established technology based startups. In discussions with The Express Tribune, they pointed out that Pakistani IT companies could cultivate strong
Islamabad: National Resources Limited (NRL), a subsidiary of YB Pakistan Limited, Reliance Commodities (Pvt) Limited and Liberty Mills Limited, has been awarded a lease for mineral exploration in Chagai district, Balochistan. The NRL’s application for the lease, submitted in early 2022, has now been approved after all legal and procedural requirements have been completed. The awarded area spans 500 square kilometers in the Chagai region and NRL’s ambitious project aims to attract significant investment in the mining sector, providing direct and indirect employment opportunities, particularly in Balochistan. Keeping feasibility in mind, NRL also intends to refine the mined minerals locally
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October 26, 2026
The Pakistan Daily
October 26, 2026
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