Marking a new chapter in Pakistan–Türkiye energy collaboration, Pakistan Petroleum Limited (PPL), a major energy company in the country, has finalised the Assignment Agreement for Eastern Offshore Indus Block C.
PPL disclosed the development in its filing to the Pakistan Stock Exchange (PSX) on Wednesday.
“PPL is pleased to announce the execution of the Assignment Agreement for Eastern Offshore Indus Block C, which marks the beginning of a new era of energy cooperation between Pakistan and Türkiye,” read the notice.
PPL has assigned 25% Participating Interest (PI) along with operatorship to Turkish Petroleum Overseas Company (TPOC), a subsidiary of Türkiye’s national oil company TPAO, and 20% PI each to OGDCL and MariEnergies.
“PPL retains the remaining 35% PI and shall continue to play a key role in the Block’s development.
The partnership marks a pivotal move toward unlocking Pakistan’s offshore hydrocarbon potential and reinforces the long-term strategic energy alliance between Pakistan and Türkiye.”
Earlier in October, PPL announced a strategic partnership with TPOC under the farm-out process of the Eastern Offshore Indus C Block.
“This partnership is the result of high-level engagements between the governments of Pakistan and Türkiye, aimed at deepening bilateral cooperation in the energy sector and promoting Foreign Direct Investment (FDI) in Pakistan’s offshore exploration activities,” PPL said back then.
Türkiye have shown keen interest in Pakistan’s energy sector.
A visiting Turkish business delegation, including Minister of Energy and Natural Resources of Türkiye, Alparslan Bayraktar, said that Türkiye is planning to develop additional ventures in partnership with Pakistan, particularly in oil & gas exploration, energy infrastructure, and the mining sector.
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