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KARACHI, Oct 14 (APP): Pakistan Petroleum Limited (PPL) has entered into a strategic offshore partnership with Turkish Petroleum Overseas Company (TPOC), a subsidiary of Türkiye Petrolleri Anonim Ortakligi (TPAO), marking a major milestone in the farm-out process of the Eastern Offshore Indus Block-C.
The partnership stems from high-level engagements between Pakistan and Turkiye, focused on strengthening bilateral cooperation in the energy sector and boosting foreign direct investment (FDI) in Pakistan’s offshore exploration projects, said a news release on Tuesday.
Under this initiative, PPL has transferred operatorship of the block to TPOC, subject to regulatory approvals — a move aimed at introducing international best practices into Pakistan’s offshore operations while further cementing ties between the two nations.
In parallel, Oil & Gas Development Company Limited (OGDCL) and Mari Energies Limited (MariEnergies) also joined the farm-out process after completing due diligence, resulting in a four-party agreement among PPL, TPOC, OGDCL, and MariEnergies.
According to the agreement: TPOC will hold a 25% participating interest (PI) and assume operatorship of the block. OGDCL and MariEnergies will each hold 20% PI. PPL will retain the remaining 35% PI and continue to play a key role in project development.
The collaboration represents a significant step toward exploring Pakistan’s offshore hydrocarbon potential and lays the groundwork for long-term strategic energy cooperation between Pakistan and Turkiye.