Oil and Gas Development Company Limited (OGDCL) is stepping up its global ambitions, revealing that it is in talks with other state-owned enterprises and Turkish Petroleum Corporation (TPAO) to form a consortium for participation in Libya’s Bid Round 25.
Launched in March 2025, the round offers 22 exploration blocks, split evenly between 11 onshore and 11 offshore areas. Libya, which holds an estimated 91 billion barrels of oil equivalent (Bboe) in undiscovered hydrocarbon resources, has attracted international players. OGDCL was successfully qualified as an eligible investor in August and is now actively advancing its participation.
According to the company’s annual report released Monday, technically shortlisted blocks have already been identified, while data acquisition and evaluation work is underway. To comprehensively assess the opportunity, OGDCL has constituted cross-functional teams covering technical, commercial, and strategic areas.
TPAO, Turkiye’s national oil company established in 1954, is among the potential consortium partners. Negotiations with TPAO and other state-owned enterprises remain ongoing.
Beyond Libya, OGDCL said it intends to strengthen its core exploration and production business while accelerating diversification into minerals and renewables in the ongoing fiscal year. The company highlighted priorities such as intensifying exploration, fast-tracking development projects to sustain production growth, monetising unconventional gas under Pakistan’s new tight and shale gas policy, and advancing large-scale projects including Reko Diq and Offshore Block-5.
It added that renewable and geothermal initiatives would also be expanded in line with the global energy transition, while regional opportunities like Libya’s Bid Round remain central to its growth strategy.
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