US firm, local partners launch joint venture to revive dormant oil and gas block

Pakistan's Minister for Petroleum, Ali Pervaiz Malik (third-right) in conversation with representatives of US company Hycarbex-American Energy and Pakistani partners Mari Energies in Islamabad, Pakistan, on October 1, 2025. (PID)
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Updated 01 October 2025
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US firm, local partners launch joint venture to revive dormant oil and gas block

  • Hycarbex-American Energy signs joint venture with Mari Energies, Fatima Petroleum to restart exploration at Peshawar site
  • Project comes amid broader US-Pakistan push on energy, trade and critical minerals under Trump and Sharif administrations

ISLAMABAD: A long-dormant oil and gas block in northwestern Pakistan is set to be revived through a new joint venture between US company Hycarbex-American Energy and Pakistani partners Mari Energies and Fatima Petroleum, the petroleum ministry said on Wednesday.

The Peshawar Block, located in Khyber Pakhtunkhwa province, has remained inactive for years due to regulatory delays, security challenges and a lack of financing. Its revival is expected to help Pakistan reduce dependence on costly fuel imports, ease persistent gas shortages and unlock untapped hydrocarbon reserves critical to sustaining industrial growth and household supply.

The revival of the block also marks one of the most significant US participations in Pakistan’s upstream energy sector in recent years and is seen as a potential catalyst for wider American investment in the country’s oil, gas and minerals industries.

Federal Petroleum Minister Ali Pervaiz Malik announced the joint venture after meeting Hycarbex CEO Pierce Onthank and Mari Energies CEO Faheem Haider in Islamabad on Wednesday. 

“The commitment shown by these companies to unlock the potential of this block is commendable. It is crucial for our goal of indigenization and sustainability of fuel supplies, and we assure full support in facilitating its advancement,” Malik was quoted as saying in a statement by the petroleum ministry. 

Hycarbex CEO Onthank said the company was already working on three other exploration blocks in the country, the petroleum ministry statement said. 

“The energy opportunity in Pakistan is incredible,” he said. 

“Our company is committed to this market, and alongside our work on the Peshawar Block JV, Hycarbex-American Energy is also working on three other blocks in the country. We have done substantial investment in Pakistan. We are confident that this collaboration will yield significant results for Pakistan’s energy landscape.”

The project also aligns with the Pakistani government’s ongoing overhaul of the Directorate General of Petroleum Concessions (DGPC) to create a more efficient and investment-friendly regulatory framework aimed at attracting long-term foreign capital.

The JV comes amid a broader effort by Pakistan and the United States to deepen economic engagement, particularly in energy, minerals, trade and technology. 

Relations between the two countries have warmed under US President Donald Trump, who met Pakistani Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, the country’s army chief, at the White House last week in wide-ranging discussions on security as well as trade and investment.

Washington and Islamabad have also launched talks to encourage US private-sector participation in Pakistan’s economy and its energy transition.


Pakistan says it has received no request to join Gaza stabilization force

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Pakistan says it has received no request to join Gaza stabilization force

  • Foreign Office says any decision on participating in an international mechanism will be guided by sovereign policy considerations
  • It says Pakistan’s security collaboration with Saudi Arabia is longstanding and should not be narrowly viewed as troop deployment

ISLAMABAD: Pakistan has not taken any decision on joining a proposed International Stabilization Force (ISF) for Gaza and has received no formal request from the United States or any other country in this regard, the foreign office said on Thursday.

Trump’s Gaza plan, outlined as part of a 20-point framework, envisages the deployment of troops from Muslim-majority countries during a transitional stabilization phase, intended to support security and governance as the war-ravaged Palestinian territory moves toward reconstruction and a longer-term political settlement.

International media outlets claim Washington views Pakistan as a potentially significant contributor given its battle-hardened military, which has fought a brief but intense conflict with India this year and continues to combat insurgencies in its remote regions.

Responding to a query during his weekly media briefing, the foreign office spokesperson, Tahir Andrabi, said discussions on ISF for Gaza were ongoing in “certain capitals,” but Pakistan had neither committed to participate nor received any specific request.

“We have not taken a sovereign decision to participate in ISF as yet,” he said. “I am not aware of any specific request made to Pakistan. We will inform you about any development if it takes place.”

He added that while Gaza and Palestine remain part of Pakistan’s broader diplomatic engagements with regional partners, the Organization of Islamic Cooperation (OIC) and members of the United Nations Security Council, the issue of deploying a stabilization force had not been discussed as a standalone, structured agenda item.

“These discussions come up in the broader context of how to stabilize Gaza and ensure peace, but not as a specific, formal proposal,” he added.

The spokesperson maintained Pakistan supports efforts aimed at Gaza’s stabilization and peace but would make any decision on participation in international mechanisms strictly in line with its sovereign policy considerations.

In response to a question about a recent news report by Reuters about a possible visit by Pakistan’s Chief of Defense Forces Field Marshal Asim Munir to the United States to meet US President Donald Trump, Andrabi said there was no confirmation of such plans.

“I can contradict the report in its essence,” he said. “The report suggested as if a visit has been planned or finalized. I do not have any information on the timing or any future visit.”

Earlier, a White House official told Arab News on background no meeting was scheduled between Trump and Munir “at this time.”

The foreign office spokesperson stressed that official visits by Pakistan’s political or military leadership are announced formally by the government ahead of time.

“When an official visit takes place, there is an official announcement. I do not have any such information to share,” he added.

To a question regarding the Pakistan–Saudi Arabia Strategic Mutual Defense Agreement (SMDA) signed in September, he said security collaboration between Islamabad and Riyadh was longstanding, reiterating that the latest pact had only codified and further elaborated the partnership.

Andrabi maintained the pact should not be interpreted narrowly as the deployment of Pakistani forces, noting that defense cooperation covered a wide spectrum including training, joint exercises and institutional collaboration.

“As I said, it’s an ongoing process,” he said. “You should not read it just in the context of sending your forces. There are training, joint exercises that keep on going. If you interpret training as sending forces, I cannot say that. I mean, sending of forces is a very broad term. But our defense corporation, as I said, is ongoing.”