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KARACHI: Pakistan Petroleum Limited (PPL) announced a significant partnership with Turkish Petroleum Overseas Company (TPOC) in the Eastern Offshore Indus Block-C, following high-level talks between the governments of Pakistan and Turkiye.
The collaboration aims to enhance bilateral cooperation in the energy sector and attract foreign direct investment in Pakistan’s offshore exploration activities. As part of the agreement, PPL has transferred the operatorship of the block to TPOC, pending regulatory approval.
PPL also collaborated with Oil and Gas Development Company Limited (OGDCL) and Mari Energies Limited (MariEnergies) during the farm-out process. The agreement, finalized after thorough due diligence, involves PPL assigning 25 percent Participating Interest (PI) and operatorship to TPOC, while OGDCL and MariEnergies each receive 20 percent PI. PPL will maintain a 35 percent PI.
The initiative is a step towards tapping into Pakistan’s offshore hydrocarbon resources and establishing long-term strategic energy ties between the two nations.