PR
Karachi: Pakistan Petroleum Limited (PPL) has announced a landmark partnership with Turkish Petroleum Overseas Company (TPOC) — a subsidiary of Türkiye’s national oil company, Türkiye Petrolleri Anonim Ortaklığı (TPAO) — marking a major step forward in the development of Pakistan’s offshore energy sector.
The collaboration, formalized under a farm-out agreement, follows extensive high-level engagements between the governments of Pakistan and Turkiye aimed at strengthening bilateral energy cooperation and encouraging foreign direct investment (FDI) in Pakistan’s offshore exploration projects.
Under the agreement, PPL will transfer operatorship of the Eastern Offshore Indus Block-C to TPOC, pending regulatory approvals. The move underscores Pakistan’s intent to align its offshore exploration efforts with global best practices while expanding partnerships with international energy players.
In a parallel development, Oil & Gas Development Company Limited (OGDCL) and Mari Energies Limited (MariEnergies) joined the farm-out process after conducting detailed due diligence.
According to the agreement, PPL will retain a 35 percent participating interest (PI) in the block, while assigning 25 percent PI and operatorship to TPOC, and 20 percent PI each to OGDCL and MariEnergies.
“This partnership not only reinforces Pakistan’s strategic energy ties with Turkiye but also paves the way for unlocking the country’s offshore hydrocarbon potential,” PPL said in a statement.
The collaboration is expected to serve as a cornerstone for long-term cooperation in the energy sector, supporting Pakistan’s efforts to diversify its energy mix and attract global investment in offshore exploration.
Photo Caption:
Officials of Pakistan Petroleum Limited and Turkish Petroleum Overseas Company during the signing ceremony at the TPAO headquarters in Ankara, Turkiye.
