Pakistan has officially revived its offshore oil and gas exploration after nearly 20 years. The government signed Production Sharing Agreements (PSAs) and Exploration Licences for 23 offshore blocks under the Offshore Bid Round 2025.
These blocks cover a vast area of around 54,600 square kilometres in the Indus and Makran offshore basins. The signing ceremony was witnessed by Federal Minister for Petroleum Ali Pervaiz Malik.
Mari Energies Limited emerged as the biggest player, securing stakes in all 23 blocks and acting as operator in most of them. Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL) were each awarded eight blocks. Other companies, including Turkish partners, are also involved.
The initial investment in the first phase is estimated at $82 million, which could rise to nearly $1 billion if exploration moves to the drilling phase. The government hopes these efforts will lead to new oil and gas discoveries, reduce reliance on imports, and strengthen energy security.
This major initiative is being seen as a significant boost for Pakistan’s blue economy and a sign of growing investor confidence in the country’s offshore potential.