Ali Pervaiz Malik witnessed the signing ceremony for the offshore blocks located in the Indus and Makran offshore basins adjoining the territorial waters of Sindh and Balochistan.
According to the Petroleum Division, the Offshore Bid Round 2025 attracted bids covering nearly 54,600 square kilometres of Pakistan’s offshore territory, resulting in the award of 23 offshore blocks.
The division said two offshore blocks — Offshore Deep-C and Offshore Deep-F — had already been awarded in December 2025 to a consortium comprising Mari Energies Limited, Turkish Petroleum Overseas Company and Fatima Petroleum Company Limited during a ceremony at the Prime Minister’s Office.
With the signing of the remaining 21 agreements, the contractual framework for the entire Offshore Bid Round 2025 portfolio has now been completed.
Speaking at the ceremony, the petroleum minister termed the development a major milestone in reviving offshore exploration, attracting foreign and domestic investment and reducing dependence on imported energy.
He said the agreements reflected investor confidence in Pakistan’s offshore upstream potential spread across approximately 282,623 square kilometres, where only 18 exploratory wells have been drilled since independence.
The minister added that the successful completion of the bid round demonstrated the government’s commitment to making Pakistan a competitive offshore destination through transparent and investor-friendly policies.
The framework includes the promulgation of Offshore Petroleum Rules and a new Model Production Sharing Agreement aimed at improving transparency, competitiveness and investor confidence.
Among participating firms, Mari Energies Limited emerged as the most active company, securing stakes in all 23 offshore blocks, including 18 as operator and five as a joint venture partner.
Oil and Gas Development Company Limited and Pakistan Petroleum Limited were each awarded eight exploration blocks, including two each as operators.
Prime Global Energies Limited secured one block as operator, while United Energy Pakistan Limited and Orient Petroleum Incorporation also participated as joint venture partners.
The Petroleum Division estimated an initial investment of around $82 million during the first phase of the three-year licence period.
It added that total investment could rise to nearly $1 billion if exploration progresses to second-phase drilling operations.
Initial work will include geological and geophysical studies, seismic data acquisition, processing and interpretation to assess hydrocarbon potential in offshore basins.
Subject to favourable results, exploratory drilling operations will later begin in prospective offshore areas.
The awarded companies have also committed to social welfare and capacity-building initiatives in coastal areas of Sindh and Balochistan.
According to the Petroleum Division, substantial follow-on investments worth hundreds of millions of dollars are expected if commercial hydrocarbon discoveries are made.
