Pakistan, May 21 -- Pakistan's offshore frontier was formally reopened after nearly two decades on Wednesday as the government inked Production Sharing Agreements (PSAs) and Exploration Licences (ELs) for offshore blocks.

Federal Minister for Petroleum Ali Pervaiz Malik witnessed the signing ceremony of PSAs and ELs for offshore exploration blocks awarded under the Offshore Bid Round 2025, read an official statement. The awarded blocks are located in the Indus and Makran offshore basins adjoining the territorial waters of Sindh and Balochistan. The Offshore Bid Round 2025 attracted bids covering approximately 54,600 square kilometres of Pakistan's offshore area, resulting in the award of 23 offshore blocks.

Two offshore blocks awarded u...