Islamabad: In a significant development for Pakistan’s energy sector, the Ministry of Energy announced the successful conclusion of the Offshore Bid Round 2025, marking the first such event in 18 years. The bid round has attracted both national and international interest, with successful proposals for 23 offshore blocks designed to enhance exploration and energy security in the region.
The Ministry of Energy initiated the bid round in January, aligning with the Prime Minister’s energy security vision. The process included a Model Production Sharing Agreement to ensure transparency and competitiveness, alongside newly promulgated Offshore Petroleum Rules to establish a regulatory framework for exploration.
A recent study by U.S. firm DeGolyer and MacNaughton revealed significant hydrocarbon potential in Pakistan’s offshore basins, prompting the bid round aimed at exploring these resources. The bid opening, overseen by the Director General Petroleum Concessions, involved representatives from Sindh and Balochistan.
The government received bids for 23 offshore blocks, covering approximately 53,510 square kilometers, indicating strong investor confidence. Key national companies such as OGDCL, PPL, MariEnergies, and Prime Energy, along with international partners like Turkish Petroleum and United Energy, emerged as successful bidders.
Phase-I commitments involve 4,427 work units and an investment of around 80 million USD. The companies will conduct geophysical and geological studies to assess hydrocarbon potential, with exploration drilling investments potentially reaching up to 1 billion USD.
Pakistan’s strategy to explore the Indus and Makran basins has yielded positive results, and the Ministry plans to invite global oil majors for further exploration phases. Turkish Petroleum’s acquisition of a 25% stake in an offshore block underscores international interest.
Prime Minister Muhammad Shehbaz Sharif expressed appreciation for the proactive participation of oil and gas companies, welcoming new partners to explore Pakistan’s offshore potential and assuring government support for expedited exploration activities.