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First offshore bidding round since 2007 draws 23 block

awards

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Four local-led consortiums win exploration rights

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Turkish national oil company TPAO among foreign partners

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Possible $750 million-$1 billion investment if drilling

proceeds

(Updates throughout with details)

By Ariba Shahid

KARACHI, Oct 31 (Reuters) - Pakistan said it has awarded

23 offshore exploration blocks to four consortiums led by local

energy companies, some partnered with foreign firms including

Turkey's national oil company TPAO.

In Pakistan's first such bidding round in nearly two

decades, its energy ministry said on Friday that bids were

awarded for 23 of 40 offshore blocks offered, covering around

53,500 square kilometres.

The energy ministry listed state-run Oil and Gas Development

Co. Ltd (OGDCL), Pakistan Petroleum Ltd (PPL)

and MariEnergies, along with

privately-owned Prime Energy, which is backed by Pakistan's Hub

Power Company (Hubco), among the successful bidders.

TPAO secured a 25% stake in one of the awarded blocks and

the right to operate it after signing a joint bidding agreement

with Pakistan Petroleum Ltd (PPL) earlier this year to explore

the country's offshore prospects.

Other partners include Hong Kong-based United Energy Group ( UNEGF ),

Orient Petroleum, a major local independent producer, and Fatima

Petroleum, part of Pakistan's Fatima Group conglomerate.

The four winning consortiums, led by OGDCL, PPL, Mari

Petroleum and Prime Energy, collectively pledged about $80

million in exploration work over the initial three-year period,

the energy ministry said.

Total investment could rise to between $750 million and $1

billion if drilling proceeds, it added.

Pakistan's 300,000 square kilometre offshore zone, bordering

energy-rich Oman, the United Arab Emirates and Iran, has seen

just 18 wells drilled since the country's independence in 1947,

too few to fully assess its hydrocarbon potential.

Pakistan, which imports about half its oil, is seeking to

revive foreign interest after the failure of the 2019 Kekra-1

well led to the exit of U.S. major Exxon Mobil ( XOM ).