Pakistan Seeks Saudi Revival of $10B Refinery, Offers Oil and Gas Fields Stakes
Pakistan is going to to Push Saudi Arabia to revive $10 billion oil refinery projects and offer stakes in il and Gas Fields.
Pakistan and Saudi Arabia are set to sign a multibillion-dollar deal on October 5, 2025, under the ‘Pakistan Bridge between Gulf Countries and China Concept.
A high-level delegation from Saudi Arabia is scheduled to visit Islamabad in the first week of October.Saudi Arabia to build LNG terminal in Pakistan
The projects which are part of the discussion include the revival of $10 billion oil refinery deal, a partnership in an oil terminal, and offering stakes in onshore and offshore fields in Pakistan.
MBS had announced to invest $20 billion in different sectors, mainly the oil refinery project, during his visit to Pakistan in 2019 during the PTI government tenure.
But the multibillion-dollar project deal was stalled due to tension between MBS and then Prime Minister Imran Khan. Refinery project, worth $10 billion, was also part of the deal.
Now, two countries have opened a new era of relations after signing a defence pact, and therefore they are moving fast on boosting economic relations.
Pakistan is set to pitch to Saudi Arabia to become a partner in oil terminal planned by PSO in Hub Balochistan, with a cost of $300 million.
Pakistani exploration companies like Mari Petroleum and OGDCL have also decided to offer stakes in existing oil and gas fields to the Saudi firm Aramco.
