Pakistan has allocated 23 offshore oil and gas exploration blocks to four different consortiums in the first bidding round held after nearly two decades.
These consortiums, led by local energy companies, have partnered with several foreign firms — notably the Turkish state-owned company TPAO.
Out of a total of 40 offshore blocks, successful bids were received for 23, covering an area of approximately 53,500 square kilometers.
According to the Ministry of Energy, the winning companies include Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), Mari Energies, and Prime Energy.
The ministry further stated that TPAO has secured a 25% stake and operational responsibility in one of the blocks. This partnership was formed earlier this year under a joint bidding agreement with PPL, aimed at exploring Pakistan’s offshore energy potential.
Other international partners include United Energy Group (Hong Kong), Orient Petroleum, and Fatima Petroleum.
The four successful consortiums have committed to carrying out exploration activities worth around $80 million during the initial three-year phase.
According to the Ministry of Energy, if the projects advance to the drilling stage, the total investment could reach between $750 million and $1 billion.
Pakistan’s offshore zone — spanning nearly 300,000 square kilometers and bordering Oman, the UAE, and Iran — has seen only 18 wells drilled since 1947, insufficient to fully assess its hydrocarbon potential.
Currently, Pakistan imports nearly half of its crude oil needs, and after the failure of the Kekra-1 project in 2019, foreign investment in offshore exploration had declined.
However, experts say the latest developments mark a significant step toward reviving Pakistan’s energy sector.
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