After nearly two decades, Pakistan has revived its offshore energy ambitions by awarding 23 offshore oil exploration blocks to four major consortiums led by Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), Mari Petroleum, and Prime Energy. These consortiums include partnerships with leading international firms such as Turkey’s TPAO, United Energy Group, and Fatima Petroleum, marking a significant step toward revitalizing the country’s exploration and production sector.
The consortiums have collectively committed around $80 million for the initial exploration phase, with total investments projected to range between $750 million and $1 billion. This large-scale initiative aims to unlock Pakistan’s offshore hydrocarbon potential, which has long remained underexplored due to high costs, technological challenges, and limited investor participation.
The government’s renewed focus on offshore exploration follows a recent study conducted by the U.S.-based firm DeGolyer and MacNaughton (D&M), which identified promising hydrocarbon prospects in Pakistan’s offshore basins. Encouraged by these findings, Pakistan’s energy authorities have accelerated efforts to attract international oil and gas companies to participate in future bidding rounds and joint ventures.
Officials have emphasized that this development is a key part of Pakistan’s broader strategy to enhance energy security, reduce dependence on imported fuels, and strengthen the domestic energy supply chain. Offshore exploration, if successful, could significantly boost Pakistan’s reserves, lower its import bill, and contribute to long-term economic stability.
By combining local expertise with global technological partnerships, Pakistan hopes to position itself as an emerging offshore exploration hub in South Asia. The awarded blocks represent a renewed confidence in the country’s energy potential and a strategic move toward self-reliance in the energy sector.
