Pakistan awards 23 offshore oil and gas blocks to Mari Energies

Pakistan has taken a significant step forward in offshore oil and gas exploration as the federal government awarded 23 new offshore blocks to Mari Energies Limited under the “Offshore Bid Round 2025”.

According to the 24NewsHD TV channel, the company secured the largest share of exploration rights in the round, which offered a total of 40 blocks.

As per the Petroleum Division, Mari Energies was granted 18 blocks as the operator and five as a joint venture partner. The awarded areas cover approximately 53,510 square kilometres across the Indus and Makran basins.

Following the announcement, Mari Energies informed the Pakistan Stock Exchange (PSX) through an official letter.

The Petroleum Division stated that an initial investment of around $80 million is expected in the first phase of exploration, which could rise to $1 billion during the drilling stage.

The successful bids mark a crucial advancement in Pakistan’s efforts to tap into its offshore hydrocarbon potential.

The US-based consulting firm DeGolyer and MacNaughton had earlier estimated that Pakistan’s offshore basins may hold up to 100 trillion cubic feet of recoverable gas reserves. The new exploration initiative aims to unlock a portion of this vast potential.

Mari Energies will be joined by several major joint venture partners, including Turkish Petroleum, United Energy, Orient Petroleum, and Fatima Petroleum, to jointly explore and develop the awarded offshore blocks.

Mari Energies Limited, formerly Mari Petroleum Company Limited, is one of Pakistan’s leading exploration and production firms.

Headquartered in Islamabad, the company is controlled by the Fauji Foundation, which owns a 40 percent stake.

It is listed on the Pakistan Stock Exchange (PSE) and is engaged in the exploration, development, and production of hydrocarbons, including natural gas, crude oil, condensate, and liquefied petroleum gas (LPG).

Reporter: Awais Kiyani