ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) has secured eight offshore exploration blocks under the government’s Offshore Bid Round 2025, marking Pakistan’s renewed push to revive offshore energy exploration after nearly two decades and tap untapped hydrocarbon reserves in the Arabian Sea.
The development was formalised during a high-level signing ceremony held at the Ministry of Petroleum in Islamabad, where Production Sharing Agreements (PSAs) and exploration licenses were signed between the government, OGDC, and its joint venture partners.
Under the new awards, OGDC will serve as operator in two offshore blocks, while participating as a joint venture partner in six additional blocks. Company officials described the development as a major expansion of OGDC’s exploration footprint and a strategic step toward strengthening Pakistan’s long-term energy security.
Petroleum Minister Ali Pervaiz Malik termed the reopening of offshore exploration a “historic milestone” for the country’s energy sector, emphasising that the initiative aims to attract fresh investment, revive exploration activity and reduce Pakistan’s heavy dependence on imported fuel.
“Pakistan possesses enormous untapped offshore potential, and today’s agreements represent the beginning of a new chapter in the country’s energy future,” the minister said while addressing participants at the ceremony.
The event was attended by senior government officials, executives from partner companies, and representatives of Government Holdings Private Limited. OGDC was represented by Managing Director and CEO Ahmed Hayat Lak and Head of Exploration Dr Khalid Amin Khan.
The Offshore Bid Round 2025 is being viewed as one of the most ambitious upstream energy initiatives launched in Pakistan in recent years. Offshore exploration in the country had remained largely dormant since the early 2000s due to high exploration costs, technical challenges, and inconsistent investor interest. However, rising energy demand and mounting import bills have forced policymakers to revisit indigenous resource development as a national priority.
Pakistan spends billions of dollars annually on imported oil and liquefied natural gas, placing sustained pressure on foreign exchange reserves. Officials believe successful offshore discoveries could eventually help ease the country’s energy deficit, improve balance-of-payments stability, and support industrial growth.
Industry observers say Pakistan’s offshore basins remain significantly underexplored compared to regional energy markets despite geological indications that suggest the presence of commercially viable hydrocarbon systems. The renewed offshore licensing round is expected to encourage advanced seismic surveys, deepwater exploration, and greater participation from domestic and international energy firms.
