OGDC, Partners secure provisional rights for 8 offshore exploration blocks

MG News | November 13, 2025 at 02:13 PM GMT+05:00

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November 13, 2025 (MLN): Oil and Gas Development Company Limited (PSX: OGDC) has been provisionally awarded petroleum exploration rights for eight new offshore blocks in Pakistan.

This followed a competitive bidding round held by the Government's Ministry of Energy (Petroleum Division) in October 2025.

The provisional awards were communicated to OGDC and its joint venture (JV) partners: Pakistan Petroleum Limited (PPL), Mari Energies Limited (MariEnergies), and Prime Global Energies Limited (Prime).

The eight blocks are primarily located in the Indus Offshore Basin, with one block in the Makran Offshore Basin.

OGDC's participation interest across the blocks ranges from 23% to 32%.

S. No.	Block / Basin	OGDCL Participation Interest	Operator	Other JV Partners
1	Bin Qasim South (Indus Offshore)	32%	OGDCL	PPL (24%), MariEnergies (24%), Prime (20%)
2	Keti Bandar (Indus Offshore)	32%	OGDCL	MariEnergies (24%), PPL (24%), Prime (20%)
3	Gharo Creek (Indus Offshore)	30%	PPL	PPL (40%), MariEnergies (30%)
4	Kochi Creek (Indus Offshore)	30%	PPL	PPL (40%), MariEnergies (30%)
5	Behr Block (Indus Offshore)	30%	MariEnergies	MariEnergies (40%), PPL (30%)
6	Zarrar Block (Indus Offshore)	24%	MariEnergies	MariEnergies (32%), PPL (24%), Prime (20%)
7	Offshore Deep D (Indus Offshore)	30%	MariEnergies	MariEnergies (40%), PPL (30%)
8	Sapat Bandar (Makran Offshore)	23%	Prime	MariEnergies (23%), Prime (31%), PPL (23%)

OGDC will act as the Operator for the Bin Qasim South and Keti Bandar blocks.

The company's participation in this bidding round is a key part of its strategy and business plan.

This move is intended to invest in its core business, accelerate exploratory activities, and augment its hydrocarbon reserves balance.

The provisional awards are not yet finalized. The arrangements are contingent upon the execution of several official documents, including:

Production Sharing Agreements
Grant of Exploration Licenses
Joint Operating Agreements (JOAs) among the respective JV Partners
Completion of related legal and procedural formalities

OGDC submitted this information to the Pakistan Stock Exchange (PSX) and the London Stock Exchange (LSE) in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations.

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