ECC approves new offshore consortium

November 18, 2025 (MLN):  Pakistan’s drive to accelerate offshore oil and gas exploration received a major boost today as the Economic Coordination Committee (ECC) approved a new partnership structure for the Eastern Offshore Block-C bringing together leading international and domestic exploration and production (E&P) companies.

The ECC approved Pakistan Petroleum Limited’s (PPL) request for the Assignment of Participating Interests in the block, a move widely viewed as a milestone in Pakistan’s offshore ambitions.

Under the newly approved arrangement, Turkish Petroleum Overseas Company (TPOC) will hold a 25% stake, PPL 35%, Mari Energies Limited 20%, and the Oil & Gas Development Company Limited (OGDCL) 20%.

Khurram Schehzad, Advisor to the Finance Minister, in a post on X (formerly Twitter),shared that as part of the Assignment Agreement, operatorship of the block will transfer to TPOC upon the signing of the deed of agreement.

The shift is expected to bring significant international offshore expertise into Pakistan’s E&P landscape, improving technical capabilities, operational execution, and overall project delivery.

Block-C hosts a drill-ready prospect, which the consortium will now pursue under TPOC’s operatorship.

The planned exploration well is expected to draw substantial foreign direct investment (FDI), reinforcing the government’s ongoing efforts to enhance Pakistan’s reliance on indigenous energy sources.

It was noted that a successful offshore strike could unlock a new frontier for Pakistan’s energy sector. Should the exploration well yield positive results, additional prospects in the area will be prioritized for further drilling, supporting the country’s long-term resource development and energy security strategy.

The development follows the government’s recent award of 23 offshore exploration blocks to various E&P companies many of which are part of this consortium reflecting renewed momentum and investor confidence in Pakistan’s offshore potential.

The decision sends a strong signal to global investors, noting that increased offshore activity could “reshape the country’s energy outlook” if supported by stable policy and timely project execution.

With ECC approval secured, the consortium is now preparing to move ahead with operational planning, marking what is described as a new chapter in Pakistan’s pursuit of offshore energy exploration.

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