Overview
- Pakistan’s energy ministry said 23 of 40 offered offshore blocks were awarded, covering roughly 53,500 square kilometres.
- Four consortiums led by OGDCL, PPL, MariEnergies and Prime Energy won the blocks alongside partners including United Energy Group, Orient Petroleum and Fatima Petroleum.
- Turkey’s TPAO secured a 25% stake and operatorship of one block under a joint bidding agreement with PPL.
- The winners committed about $80 million for the initial three-year exploration phase, with total investment projected at $750 million to $1 billion if drilling proceeds.
- Officials framed the awards as a step to revive a sparsely tested offshore sector that has seen only 18 wells drilled since 1947.