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Articles for tag: Awards, blocks, exploration, offshore, Oil, Pakistan, years

October 31, 2025

News Desk

Pakistan awards 23 offshore oil exploration blocks after 18 years

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

April 24, 2025

News Desk

Kuwait is included in Pakistan’s offshore offers

Listen to the article Islamabad: Kuwait’s (KUFPEC) examination company has decided to participate in the Pakistani tender round. Already, the company has been in Pakistan since 1987 and has invested $ 1.5 billion. A high-level meeting was held between Federal Petroleum Minister Ali Pervaiz Malik and Ali Taha al-Temimi, Director of the country of KUFPEC and President of the Pakistani Examination and Production Companies Association (PPEPCA). The meeting focused on enhancing cooperation in the Pakistani oil and gas sector, enhancing exploration activities and tackling the key challenges to enhance exploration activities. During the discussions, Minister Ali Pervaiz Malik underlined the

February 28, 2025

News Desk

Offsides semi -automatic to be used in Aston Villa vs Cardiff City

Offside (SAOT) semi-automatic technology will be applied for the first time in English football during the fifth round of 2024-25 Emirates fa cup, which characterizes seven ties where Premier League teams play at home. The system, developed in collaboration with the Premier League, PGMol and Genius Sports, aims to improve the speed, efficiency and consistency of decision -making outside the benefit without changing accuracy. It will automate the key elements of the offside review process while maintaining human supervision by the referee of the Video Assistant (VAR). How does SAOT work SAOT uses up to 30 recently installed stage cameras,

February 20, 2025

News Desk

Govt is moving to release fuel prices, opens offshore blocks for bidding

A fuel distributor nozzle is depicted in a gas station. – Reuters/file ISLAMABAD: The government is going to release oil prices, allowing oil marketing companies (OMCS) to sell competitive fuels while maintaining a prices ceiling to ensure market stability. In an attempt to reduce fuel costs and boost market efficiency, the government also plans to allow oil refineries to combine up to 5% ethanol into oil products to attract energy -efficiency, The news reported. Speaking at the annual oil and gas conference in Islamabad, Musadik Malik Minister Musadik Minister underlined Pakistan’s weaknesses in offshore oil and gas exploration, noting that

September 7, 2024

News Desk

Government weighs offshore drilling reform

Islamabad: The government is actively exploring two options for amending the offshore fiscal regime, with the aim of reviving interest in offshore drilling through tax breaks and strategic investments from friendly states. Earlier, Pakistan attempted offshore drilling in partnership with US energy giant ExxonMobil, after a nine-year hiatus. However, the venture was unsuccessful, with conspiracy theorists blaming ExxonMobil for a lack of commitment to drilling in the waters offshore Karachi. Sources reveal that ExxonMobil had requested a larger exploration area offshore Karachi, but security concerns prevented the government from granting the request. Now, the Shehbaz-led government is formulating a new

May 7, 2024

News Desk

Chinese investors seek offshore capital

Islamabad: In order to avoid any chance of default, Chinese investors have asked Pakistan to place funds in offshore bank accounts to service debts incurred for setting up power plants under the China-Pakistan Economic Corridor (CPEC). Pakistani authorities have yet to accede to the investors’ request, citing the country’s history of never defaulting on Chinese energy debt payments, even during periods of extremely low reserves. Islamabad is also cautious about possible reactions from the International Monetary Fund to any new concessions to Beijing. Highly placed sources informed The Express Tribune that Chinese authorities were also pressuring Pakistan to clear $125

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