PPL signs PSAs, licences for eight offshore exploration blocks

Pakistan Petroleum Limited (PPL) has signed Production Sharing Agreements (PSAs) and exploration licences for eight offshore exploration blocks awarded under the Pakistan Offshore Bid Round 2025, marking a significant step toward reviving offshore hydrocarbon exploration in the country after nearly two decades. According to a notice filed by the company with the Pakistan Stock Exchange (PSX), the agreements were executed on May 20, 2026, in the presence of the Federal Minister for Petroleum, following the earlier provisional award of the offshore blocks announced by the company on November 13, 2025.