Mari Energies wins provisional award of 23 offshore exploration blocks, including 18 as operator

Mari Energies Limited (MariEnergies) has secured the provisional award of 23 offshore exploration blocks across the Indus and Makran basins, according to a disclosure submitted to the Pakistan Stock Exchange (PSX) on Thursday. The awards were conveyed by the Directorate General of Petroleum Concessions (DGPC) through letters dated November 12, 2025, following Pakistan’s Offshore Bid Round 2025.

“We are pleased to inform that the Directorate General of Petroleum Concessions (DGPC), vide its letters dated November 12, 2025, has communicated the provisional award of twenty-three (23) new offshore exploration blocks to Mari Energies Limited (MariEnergies) of which, eighteen (18) blocks are awarded as an Operator and five (05) blocks as a joint venture partner with other E&P Companies,” read Mari’s disclosure at the PSX.  

Mari said that the blocks have been awarded after competitive bidding on the basis of work units committed by various exploration and production (E&P) companies in the Pakistan E&P Offshore Bid Round 2025 (October) conducted by Directorate General of Petroleum Concessions. 

Mari Energies has entered into partnership with Turkish Petroleum Overseas Company Limited (TPOC), Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), Prime Global Energies Limited (Prime), United Energy Pakistan Limited (UEP), Orient Petroleum Inc (OPI) and Fatima Petroleum Company Limited (FPCL).

The Binn Qasim South Block (2466-10) in the Indus Offshore Basin has been awarded with OGDCL as operator holding 32 percent working interest, while MariEnergies and PPL each hold 24 percent and Prime has 20 percent. The Kochi Creek Block (2366-8), also in Indus Offshore, is operated by PPL at 40 percent, with MariEnergies and OGDCL holding 30 percent each. The Keti Bandar Block (2367-6) mirrors the Binn Qasim structure, with OGDCL operating at 32 percent and MariEnergies and PPL sharing 24 percent each alongside Prime at 20 percent.

MariEnergies will serve as operator of the Behr Block (2366-9) in Indus Offshore with a 40 percent interest, while OGDCL and PPL each hold 30 percent. The Zarrar Block (2267-3), also in Indus Offshore, has MariEnergies operating at 32 percent with OGDCL and PPL holding 24 percent apiece and Prime at 20 percent. In Gharo Creek Block (2466-9), PPL holds operatorship with 40 percent, while MariEnergies and OGDCL each hold 30 percent.

Offshore Deep A (2266-14) in Indus Offshore has been awarded with MariEnergies as operator at 60 percent, working alongside UEP at 30 percent and OPI at 10 percent. Offshore Deep C (2366-10) has MariEnergies operating at 70 percent, with TPOC and Fatima each holding 15 percent. Offshore Deep D (2366-11) is operated by MariEnergies at 40 percent, while OGDCL and PPL each hold 30 percent.

In Offshore Ultra Deep B (2266-13), MariEnergies will operate with a 60 percent interest, followed by UEP at 30 percent and OPI at 10 percent. Offshore Deep E (2266-15) also has MariEnergies at 60 percent with the same JV structure of UEP at 30 percent and OPI at 10 percent. Offshore Deep F (2366-12) is similarly structured, with MariEnergies operating at 70 percent alongside TPOC and Fatima at 15 percent each.

The Sapat Bandar Block (2465-5) in the Makran Offshore Basin has Prime as operator with 31 percent interest, while MariEnergies, OGDCL and PPL each hold 23 percent. 

The remaining ten blocks in the Makran Offshore Basin have been awarded entirely to MariEnergies with 100 percent working interest. These include Makran Offshore Ultra Deep-I (2462-3), Ultra Deep-II (2362-2), Ultra Deep-III (2463-1), Ultra Deep-IV (2362-1), Ultra Deep-V (2363-1), Ultra Deep-VI (2361-2), Ultra Deep-VII (2362-4), Ultra Deep-VIII (2362-3), Ultra Deep-IX (2462-4) and Ultra Deep-X (2361-1).

Mari Energies stated that formal award of the blocks remains conditional on the government’s grant of Petroleum Exploration Licenses, execution of Production Sharing Agreements, and the signing of Joint Operating Agreements between all JV partners. The company added that completion of legal and procedural steps is required before exploration can commence.

The company said that the acquisition of these offshore exploration blocks is a part of its long-term strategy where it aims to not only find new hydrocarbon resources but also to largely contribute towards energy security of Pakistan. The acquired blocks, together with various consortiums, will allow systematic exploration of multiple untested hydrocarbon plays across both the Indus and Makran basins.