Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest E&P [exploration and production company], is in discussions with other state-owned enterprises and Turkish Petroleum Corporation (TPAO) to form a consortium for joint participation in Libya’s Bid Round 25.
The E&P, which seeks to expand international presence, said in its annual report released on Monday.
In March 2025, Libya launched Bid Round 25, offering a total of 22 exploration blocks comprising 11 onshore and 11 offshore areas. Libya holds an estimated 91 billion barrels of oil equivalent (Bboe) in undiscovered hydrocarbon resources.
In August, OGDCL was successfully qualified as an eligible investor and is actively advancing its participation in the bidding process. “Technically shortlisted blocks have been identified, and data acquisition and evaluation activities are currently underway.
“To comprehensively assess the opportunity, cross-functional teams have been constituted, encompassing technical, commercial, and strategic expertise.
“Additionally, negotiations are ongoing with other state-owned enterprises and Turkish Petroleum Corporation for the potential formation of a consortium,” read the report.
The Turkish Petroleum Corporation (TPAO) is Turkiye’s national oil company, established in 1954 to conduct hydrocarbon exploration, drilling, production, and distribution.
Meanwhile, OGDCL, in its report, shared that it will continue to strengthen its core exploration and production business while accelerating diversification into minerals and renewables in the ongoing fiscal year.
“Priorities include intensifying exploration and fast-tracking development projects to sustain production growth, monetising unconventional gas resources under the new tight and shale gas policy framework.
Advancing Reko Diq and Offshore Block-5 projects to secure long-term value, expanding renewable and geothermal initiatives to align with the global energy transition and exploring regional opportunities, including participation in the Libya Bid Round,” read the report.