Pakistan Cricket Board (PCB) chief Nasim Ashraf said he planned to discuss Englishman Woolmer's future after the World Cup.
Asked by Reuters if he thought Woolmer would extend his deal, Ashraf said: "I would not rule it out.
"Bob is contracted until June 30 as are the other members of our team management. We will sit down and discuss everything.
"I have had nothing but the greatest confidence in Bob Woolmer as a coach.
"Everything needs to be decided after this World Cup and it all depends on how we do here."
Pakistan suffered a 54-run defeat by hosts West Indies on Tuesday but are expected to qualify for the Super Eights as the other two teams in Group D are Ireland and Zimbabwe.
A date has also been set for the PCB and the England and Wales Cricket Board (ECB) to resolved the compensation issue regarding the forfeited Oval test last August.
"There will be a meeting in London on March 19 between their (ECB's) executive team and our executive team to discuss various options that can satisfy both parties," Ashraf said.
