KARACHI – Pakistan Petroleum Limited (PPL) has announced a landmark strategic partnership for the Eastern Offshore Indus C Block, bringing in Turkiye’s national oil company and two key local players to accelerate offshore exploration, according to a filing sent to the Pakistan Stock Exchange (PSX) on Wednesday.
The agreement establishes a consortium comprising Turkish Petroleum Overseas Company (TPOC), Oil & Gas Development Company Limited (OGDCL), and MariEnergies Limited. The partnership is the result of high-level governmental engagements between Pakistan and Turkiye, aimed at boosting foreign direct investment and technical cooperation in Pakistan’s energy sector.
As part of the farm-out agreement, PPL will transfer a 25% participating interest and the crucial operatorship of the block to TPOC, subject to regulatory approvals. Meanwhile, OGDCL and MariEnergies will each acquire a 20% stake. PPL will retain a 35% interest and remain a key partner in the block’s development.
This collaboration marks a significant step in efforts to explore Pakistan’s untapped offshore hydrocarbon potential. By integrating an international national oil company, the initiative aims to bring global best practices to the country’s offshore operations, setting a foundation for long-term strategic energy cooperation between the two brotherly nations.
