Islamabad: Pakistan and Turkiye on Tuesday signed agreements and memoranda of understanding (MoUs) worth over USD 300 million to boost cooperation in oil, gas exploration, and mining projects. The deals aim to attract investment primarily in offshore drilling activities and strengthen bilateral energy and mining collaboration.
Turkish Minister of Energy and Natural Resources Alparslan Bayraktar, who was visiting Pakistan, said Turkiye plans to expand joint ventures with Pakistan in oil and gas exploration, energy infrastructure, and the mining sector. He added that deeper collaboration in these areas is expected to contribute significantly to the shared goal of achieving USD 5 billion in bilateral trade.
Prime Minister Shehbaz Sharif witnessed the signing of key agreements, including the deed of assignment for Eastern Offshore Indus-C, petroleum concessions for Ziarat North Block, Sukhpur-II Block, and Offshore Deep-C and Deep-F Blocks. Minister for Petroleum Ali Pervaiz Malik said the deals would attract further investment in Pakistan’s energy sector and strengthen ties with Turkiye.
During the meeting, managing directors of Mari Energies, Oil & Gas Development Company (OGDC), and Pakistan Petroleum Limited (PPL) presented ongoing and upcoming projects, highlighting opportunities for Turkish investors to participate in oil and gas exploration, unconventional hydrocarbon programmes, and mining projects such as the Reko Diq copper and gold project.
As part of the agreements, a Turkish Petroleum office will be established in Islamabad in December, staffed with 10 Turkish nationals alongside local employees. The parties also agreed to explore a joint trading company to streamline petroleum procurement for their respective energy needs.
Specific agreements include the transfer of 25% working interest and operatorship of Indus Offshore Block-C from PPL to Turkish Petroleum Overseas Company (TPOC), with Mari Energies and OGDC as joint-venture partners. Exploration licenses were also granted for Offshore Deep-C and Deep-F Blocks, Sukhpur-II Block, and Ziarat North Block, involving multiple Pakistani and Turkish companies.
The MoUs reflect the ongoing commitment of both countries to strengthen bilateral energy cooperation, attract foreign investment, and enhance the development of Pakistan’s oil, gas, and mining sectors.
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