Pakistan Plans to Auction 35 Oil, Gas Blocks: Report

Pakistan is planning to auction 35 new oil and gas blocks in next few months in order to boost domestic production, special assistant to the prime minister on petroleum, Nadeem Baber said last week, Business Recorder reported July 5.

Baber said that the government wants to invite more foreign and local companies to search for oil and gas in Pakistan including in the offshore Indus Delta.

"We have huge reserves of oil and gas in our offshore areas and will continue our attempts till success," he said. He pointed out that more foreign companies will be invited to start exploration activities in Pakistan. "Exxon is also interested in starting exploration activities in other blocks," the newspaper quoted Baber saying.

With domestic gas production gradually declining, Pakistan has been relying on LNG to meet the growing gas demand. Pakistan started importing LNG in 2015 with the commissioning of the Exquisite FSRU, located at Port Qasim. Pakistan commissioned its second FSRU in late 2017.

Pakistan is now planning to set up the third terminal at Port Qasim. The Economic Coordination Committee of Pakistani cabinet July 3 approved the resolution of the Port Qasim Authority board to allow amendment in its master plan to accommodate the prospective third LNG terminal at Port Qasim near Karachi.