ZPCL has been actively involved in exploration and production activities in the North Potowar and Southern Indus Basin Blocks. ZPCL participated in exploration licenses under joint ventures with Oil & Gas Development Company Limited (OGDCL) in Basal, Thal and Shakardara Blocks in the Potowar region. ZPCL further acquired working interests in new concession agreements in four blocks, Mehar (Sindh/Baluchistan), Mirpur Khas (Sindh), Khipro (Sindh) and Sakhi Sarwar (Punjab). As a result of extensive exploration program, OGDCL/ZPCL discovered oil and gas in the Shakardara Block. Its significance marks a new era in Pakistan's history, as this was the first discovery of hydrocarbons in NWFP. Moreover, OPL/ZPCL discovered oil and gas in the Khipro and Mirpurkhas blocks and Mehar Block with Petronas Carigali. ZPCL is also a joint venture partner with OPL in East (Offshore) Indus-B, in Maharvi and Marwat Blocks where provisional Licenses have been granted.

The Shakardara block, located in district Kohat, was awarded to ZPCL, GHPL and OGDCL (Operator) in December 1994. The first exploratory well (Chanda-1) was drilled to the target depth of 4,788 meters and established commercial discovery in Datta and Lumshiwal Formations. A second well Chanda Deep # 1 had been drilled to a target depth of 5,102 meters in Wargal Formation. It was an exploratory well located 1.84 Km east of Chanda-1, which also established commercial discovery in Datta and Lumshiwal Formations. Extended Production Testing was carried out for six months and consequently Chanda field was declared commercial on June 1, 2002. The pipeline has been laid and Commercial oil & gas production has started since July 17, 2004 from the Field.

Chanda Well # 2 was spudded on June 17, 2005. It was drilled as a development well to a depth of 4995m in Tredian Formation. DST's carried out and it proved to be commercial discovery in a new Zone of Kingriali Dolomite (Triassic). The well was subsequently completed in Datta and Kingriali Formation and Commercial production started on July 17, 2006.

This Block was awarded to Ocean Pakistan Limited (Formerly Orient Petroleum International Inc.) and Government Holding (Pvt) Limited in December 1999. Working Interest was assigned to ZPCL by OPL in October 2000. To date, Joint Venture has drilled 14 exploratory wells out of which four are gas/condensate and one is an oil discovery. Other new prospects are constantly being evaluated for future development of the Field.

This Block was awarded to Ocean Pakistan Limited (Formerly Orient Petroleum International Inc.) and GHPL in December 1999. Working Interest was assigned to ZPCL by OPL in October 2000. To date Joint Venture has drilled 9 exploratory wells and completed the minimum work program commitment in Khipro area. Out of 9 wells JV made four gas/condensate discoveries. Fast track commercialization was initiated and after 6 months gas production started from Naimat Basal and Siraj South. Other new prospects are constantly being evaluated for future development of the Field .

Mehar Petroleum Concession was signed on Dec 29, 1999. Joint Venture Partners are Petronas, Ocean Pakistan Limited (Formerly Orient Petroleum International, Inc.) ZPCL and GHPL. First Exploratory Well, Mehar-1, was drilled down to Pab sandstone and was declared a commercial discovery. The appraisal well, Mehar-2, proved to be commercial in production both in Ranikot and Pab Sandstone Formation. Currently, the Operator is working on field development and the plan is to commission the first gas into SSGC system during last quarter of 2009.

OPL and ZPCL signed Sakhi Sarwar Block located in District D. G. Khan and Rajanpur, Punjab Province on December 19, 2004. OPL has undertaken a 2D seismic acquisition of 200 km and the data is being processed. Two wells will be drilled in this concession according to the work commitment and the first well is planned to be drilled in the second quarter of 2007.