Independent Report
Islamabad – Pakistan Petroleum Limited (PPL) has formalized a commercial partnership agreement for the Eastern Offshore Indus Block C in a ceremony attended by Prime Minister Muhammad Shehbaz Sharif, Turkey’s Minister of Energy and Natural Resources Alparslan Bayraktar, and Federal Minister for Petroleum Ali Pervaiz Malik.
PPL’s Managing Director and CEO, Sikandar Memon, signed the agreement, under which the company has transferred its operator role to Turkiye Petroleum Overseas Company, a wholly-owned subsidiary of Turkey’s national oil company (TPOC). PPL will retain a 35% stake, while a 20% share has been allotted to OGDC and Mari Energy.
The agreement underscores growing diplomatic and economic ties between Pakistan and Turkey and is designed to expand bilateral cooperation in the energy sector. It also aims to attract direct foreign investment into Pakistan’s offshore exploration activities.
PPL will maintain a key role in overseeing block operations and related activities, ensuring continued strategic involvement. Officials highlighted that this partnership not only strengthens energy collaboration but also enhances technology sharing and investment opportunities, benefiting Pakistan’s energy security and long-term sector growth.
The initiative marks a significant step in cementing Pakistan-Turkey relations in the energy domain, reflecting both countries’ commitment to mutually beneficial development and strategic cooperation in hydrocarbons exploration.
