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Pakistan Petroleum Limited has completed a major agreement transferring operational control of an offshore exploration block to a Turkish state oil company, officials announced, in a deal that reshapes the partnership structure of the Eastern Offshore Indus Block-C.
The agreement assigns operatorship and a 25 percent stake to Turkish Petroleum Overseas Company, a subsidiary of Türkiye's national oil firm TPAO, following high-level discussions between Islamabad and Ankara aimed at boosting foreign investment in Pakistan's energy sector.
The transfer of operational control to the Turkish company, pending regulatory approval, represents an effort to incorporate international expertise into Pakistan's offshore exploration activities. Officials characterized the partnership as strengthening bilateral ties between the two countries.
Pakistan Petroleum will retain a 35 percent interest in the block while bringing in two additional domestic partners. Oil & Gas Development Company Limited and Mari Energies Limited will each hold 20 percent stakes following the completion of due diligence reviews.
The farm-out agreement redistributes control of the offshore block among four companies, with Pakistan Petroleum maintaining the largest single stake despite ceding operational responsibilities.
Pakistan's offshore energy resources remain largely undeveloped, with exploration hampered by technical challenges and limited investment. The country has sought to attract foreign participation in its hydrocarbon sector as it grapples with energy shortages and a persistent balance of payments crisis.
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