ISLAMABAD: In a major step toward reviving offshore energy exploration, Pakistan has awarded 23 offshore oil and gas exploration blocks to four consortiums led by local energy companies, with some partnered with foreign firms, including Turkiye’s national oil company TPAO, the Ministry of Energy announced on Friday.
This marks Pakistan’s first offshore bidding round in nearly two decades, with 23 out of 40 offered blocks successfully awarded, covering an area of about 53,500 square kilometres. The winning consortiums are led by Oil and Gas Development Company Ltd (OGDCL), Pakistan Petroleum Ltd (PPL), MariEnergies, and Prime Energy, which is backed by Hub Power Company (Hubco).
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According to the ministry, the consortiums have pledged an initial investment of $80 million in exploration work over the next three years, with total investment expected to reach between $750 million and $1 billion if drilling advances to later stages. The partnership between PPL and TPAO will see Turkiye’s oil firm take a 25% stake and operational lead in one of the awarded blocks, highlighting growing regional energy cooperation.
Other consortium partners include United Energy Group (Hong Kong), Orient Petroleum, and Fatima Petroleum, part of Pakistan’s Fatima Group conglomerate. Energy Minister said that Phase-I of the agreement will focus on detailed geophysical and geological surveys, including seismic data acquisition and interpretation, to map Pakistan’s offshore hydrocarbon potential. Phase-II will involve exploratory drilling in promising areas.
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Pakistan’s offshore zone spans about 300,000 square kilometres, bordering energy-rich Oman, the UAE, and Iran, but has seen only 18 wells drilled since independence in 1947—insufficient to fully assess its resource potential. The government hopes that the Offshore Bid Round 2025 will rejuvenate exploration efforts after past setbacks, including the failed Kekra-1 well in 2019, which led to ExxonMobil’s exit from Pakistan’s energy sector.