Pakistan Petroleum Limited (PPL) has informed the Pakistan Stock Exchange that it has finalised an agreement with Turkish Petroleum Overseas for joint oil and gas exploration in the Eastern Offshore Indus-C block, marking a renewed phase of energy collaboration between Pakistan and Turkiye.
The announcement followed the formal signing of the agreement a day ago, which PPL said would deepen strategic cooperation between the two countries.
According to the company’s letter, PPL has transferred 25 percent participating interest and operatorship to Turkish Petroleum Overseas, while OGDCL and Mari Energy have secured 20 percent stakes each.
PPL will retain a 35 percent share in the venture, which the firm described as an important milestone toward advancing offshore exploration in Pakistan’s territorial waters.
The development coincided with the signing of five MoUs and deeds of assignment between Pakistan and Turkiye during the visit of a high-level Turkish delegation led by Energy and Natural Resources Minister Alparslan Bayraktar.
The delegation held engagements with Prime Minister Shehbaz Sharif, Chief of Army Staff Field Marshal Asim Munir, Petroleum Minister Ali Pervaiz Malik and Power Minister Awais Leghari.
Prime Minister Sharif witnessed the exchange of documents covering multiple exploration zones, including the deed of assignment for the Eastern Offshore Indus-C block, petroleum concession agreements for Ziarat North, Sukhpur-II, Deep C, and Offshore Deep F blocks.
Both sides also agreed to expand cooperation to mining and equity participation in the power sector.
PPL said the new partnership with Turkiye represents a major step forward in Pakistan’s efforts to tap its offshore energy potential, expressing confidence that the collaboration will reinforce the long-term strategic energy partnership between the two nations.
