Over 70 blocks picked for oil, gas exploration

Federal Minister for Petroleum Dr Musadik Malik has said that after a decade 40 new offshore and 31 onshore blocks have been offered for oil and gas exploration. Speaking at the 30th Annual Technical Conference and Oil Show on Tuesday, the minister said a significant portion of Pakistan's natural resources had remained unexplored and invited international investors to capitalise on opportunities in the newly opened blocks. "Pakistan is open for business and we will offer all necessary facilitation to investors," he stressed. Malik said the fundamental pillars of the government's strategy for advancing the energy sector were access to energy, provision of affordable energy and energy sustainability. To achieve these goals, the government is focusing on three key fronts, which include indigenisation, electrification and liberalisation.