Pakistan has restarted offshore oil and gas exploration after nearly two decades, completing agreements and licences for 23 offshore blocks under the Offshore Bid Round 2025, officials said Wednesday.
Federal Petroleum Minister Ali Pervaiz Malik attended the signing ceremony for the latest production-sharing agreements, according to a Petroleum Division statement. The contractual framework was completed after 21 additional agreements were signed.
Officials said the first three-year licence phase will involve USD 82 million in investment for seismic data acquisition, processing, geological studies and geophysical work. Total investment could rise to nearly USD 1 billion if exploration moves to offshore drilling in Phase Two.
The offshore blocks cover 54,600 square kilometres in the Indus and Makran offshore basins, near the coasts of Sindh and Balochistan. Agreements for Offshore Deep-C and Offshore Deep-F had already been finalised at the Prime Minister’s House on Dec. 2, 2025.
Malik called the signing a “historic milestone” and said the revival of offshore exploration showed the federal government’s aim to attract investment and reduce dependence on imported fuels.
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Mari Energies secured 18 of the 23 blocks as operator and five more as a joint venture partner. Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL) received eight exploration blocks, including two as operators.
Prime Global Energies received one block as operator, while United Energy Pakistan Limited and Orient Petroleum Inc. joined as venture partners. Officials said exploration wells would be drilled offshore in Phase Two if initial studies show positive results.
