Pakistan, Türkiye join hands for oil & gas exploration

ISLAMABAD: Pakistan and Türkiye have signed a joint agreement to participate in offshore oil and gas block auctions, marking a significant step towards energy cooperation between the two countries.

The agreement was finalized with the support of the Special Investment Facilitation Council (SIFC) during the Pakistan Minerals Investment Forum.

Under this agreement, major Pakistani energy companies — Mari Petroleum, Oil and Gas Development Company Limited (OGDCL), and Pakistan Petroleum Limited (PPL) — will partner with Türkiye’s state-owned company “Türkiye Petrolleri” to bid jointly in offshore block auctions.

Facilitated by SIFC, this joint bidding agreement is seen as a vital initiative to attract foreign investment and promote the development of Pakistan’s energy sector. The discovery of offshore oil and gas reserves is expected to reduce reliance on LNG imports and pave the way for energy self-sufficiency.

Seismic studies have indicated the presence of large reserves in offshore regions, particularly in the Indus and Makran basins, which offer vast investment opportunities. In February 2025, Pakistan announced the auction of 40 blocks in these basins, opening the door for increased international participation.