ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production (E&P) firm, is in advanced discussions with Turkish Petroleum Corporation (TPAO) and other state-owned enterprises to establish a consortium for joint participation in Libya’s Bid Round 25, as part of its strategy to expand its international footprint.
According to OGDCL’s annual report released on Monday, the company was officially qualified in August 2025 as an eligible investor in Libya’s latest licensing round, which offers 22 exploration blocks—11 onshore and 11 offshore. Libya’s hydrocarbon-rich basins are estimated to hold around 91 billion barrels of oil equivalent (Bboe) in undiscovered resources.
OGDCL stated that it has already shortlisted technically viable blocks, with data acquisition and evaluation activities currently in progress. Cross-functional teams comprising technical, commercial, and strategic experts have been formed to comprehensively assess the opportunity. Negotiations with Turkish Petroleum and other partners are ongoing to finalize the potential consortium structure.
Founded in 1954, Turkish Petroleum Corporation (TPAO) is Türkiye’s national oil company engaged in hydrocarbon exploration, drilling, and production across multiple regions.
In its report, OGDCL reaffirmed its commitment to strengthening its domestic exploration and production portfolio while accelerating diversification into minerals and renewable energy. Key priorities for the current fiscal year include fast-tracking development projects to sustain production, monetising unconventional gas resources under Pakistan’s new tight and shale gas policy, and advancing strategic projects such as Reko Diq and Offshore Block-5.
The company also underscored its intent to expand renewable and geothermal initiatives in alignment with the global energy transition, while actively pursuing regional growth opportunities—most notably its participation in Libya’s Bid Round 25.
