As the upstream sector develops in 2026, a new surge of oil and gas production will encompass the global energy market. The rapid acceleration of the international upstream sector has resulted in several nations around the world developing new projects that could reshape regional oil and gas production. Pakistan Petroleum, a state-owned utility, has announced that it is planning its first-ever offshore oil drilling campaign, targeting spud this year.
A surge of upstream oil and gas production has swept across the world
As the new year is expected to bring with it a surge in demand for essential energy across the international market, several nations and their sizable energy companies have noted that the increase in demand needs to be met by a surge in new oil production.
With the ongoing situation in South America, which saw Venezuelan President Nicolas Maduro being ousted by US President Donald Trump, who actually changed his Wikipedia page to state that he is the “acting President” of Venezuela, the global oil market is consumed by the tension around the region.
Despite that, 2026 is set to see a surge in oil and gas production, led mostly by the United States and its enigmatic leader. However, other nations around the international market are also plotting a new era of upstream oil and gas production to meet the expected increase in demand.
Pakistan is aiming to drill its first-ever offshore oil well, targeting spud later in 2026
Pakistan Petroleum, the nation’s state-owned energy company, has revealed that it has plans to drill its first-ever offshore well this year. The company has onshore wells that have served the nation well, but as with most nations, the anticipated increase in energy demand has forced the hand of the company and the government to now allow for a substantial offshore drilling campaign.
March will see Pakistan Petroleum starting its new offshore drilling campaign
Pakistan Petroleum has stated that it plans to launch its first-ever offshore drilling campaign in the nation in March of this year. The historic offshore drilling campaign will kick off just off the Southern shoreline of the Sindh province.
The nation’s oil resources have come from imports for the most part, but the government and state-owned energy company now plan a new search for hydrocarbon reserves off the coast. At the moment, Pakistan imports over 60% of its oil, so if the nation is to meet the expected increase in demand, a new era of offshore oil production needs to be developed this year.
The new operation will take place in the Sirani Block, where PPL believes there is a high probability of oil lurking in the depths of the water. The company has stated that if the initial discovery is successful, it will then eventually drill up to 25 wells in the block.
To facilitate a successful drilling campaign, the company is constructing a new reinforced site that can withstand the unstable subsoil in the region and the notable tidal movements. The company has recently acquired eight new exploration blocks in the southern region of Pakistan, setting the stage for a new offshore oil production era in the somewhat troubled nation.
A new year brings with it a wave of new upstream opportunities for the market
2026 is set to see several nations around the world developing new upstream oil and gas opportunities for interested energy companies to benefit from. Egypt and Nigeria both have new licensing rounds for upstream developments in 2026. The reality of the current situation across the energy market is that more energy will be needed to meet demand this year, so new and pioneering energy projects have become a necessity.
