ISLAMABAD: Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production (E&P) company, is in discussions with other state-owned enterprises and Turkish Petroleum Corporation (TPAO) to form a consortium for joint participation in Libya’s Bid Round 25, the company said in its annual report released on Monday.
Launched in March 2025, Libya’s Bid Round 25 offers 22 exploration blocks, including 11 onshore and 11 offshore, with an estimated 91 billion barrels of oil equivalent (Bboe) in undiscovered hydrocarbon resources.
OGDCL was qualified as an eligible investor in August 2025 and has identified technically shortlisted blocks. Data acquisition and evaluation activities are underway, supported by cross-functional teams covering technical, commercial, and strategic expertise.
Negotiations continue with other state-owned enterprises and TPAO, Turkiye’s national oil company, for the potential formation of a consortium.
The annual report also highlighted OGDCL’s domestic priorities, including intensifying exploration, fast-tracking development projects, monetizing unconventional gas under the new tight and shale gas policy, and advancing the Reko Diq and Offshore Block-5 projects. The company plans to expand renewable and geothermal initiatives while pursuing regional opportunities, including Libya’s Bid Round.
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