Pakistan signs 21 offshore exploration deals

May 20, 2026 (MLN): Pakistan has  completed the contractual framework for its Offshore Bid Round 2025, with the signing of 21 Production Sharing Agreements and Exploration Licences covering blocks in the Indus and Makran offshore basins off the coasts of Sindh and Balochistan.

The round, which attracted bids spanning approximately 54,600 square kilometers, resulted in the award of 23 offshore blocks in total and marks the country's return to offshore exploration after nearly two decades.

Collective investment under Phase-I of the three-year license period is estimated at $82 million, with total projected investment rising to approximately $1 billion should exploration advance to Phase-II drilling operations, according to a press release issued.

The signing ceremony was witnessed by Federal Minister for Petroleum Ali Pervaiz Malik, who described the occasion as a defining milestone in the government's drive to revitalize offshore exploration, attract foreign and domestic investment, and reduce dependence on energy imports.

Two blocks Offshore Deep-C and Offshore Deep-F had previously been executed on December 2, 2025, at the Prime Minister's Office with Mari Energies Limited, Turkish Petroleum Overseas Company and Fatima Petroleum Company Limited, bringing the full portfolio to completion.

Mari Energies emerged as the most active participant, operating 18 blocks and holding joint venture positions in five others, while OGDCL and PPL were each awarded eight blocks. Prime Global Energies, United Energy Pakistan and Orient Petroleum also featured among the awardees.

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