MARI, OGDC join hands with Turkish Petroleum

October 15, 2025 (MLN): In a major step toward reviving Pakistan’s offshore exploration potential, Mari Energies Limited (PSX: MARI) and Oil & Gas Development Company Limited (PSX: OGDC) have entered into a farm-out agreement to acquire a 20% working interest each in the Eastern Offshore Indus-C Block from Pakistan Petroleum Limited (PSX: PPL).

The agreement also brings on board Turkish Petroleum Overseas Company (TPOC), a wholly owned subsidiary of Türkiye Petrolleri Anonim Ortaklığı (TPAO), Türkiye’s national oil company.

This marked a new chapter of energy cooperation between Pakistan and Türkiye.

According to the companies’ filings with the Pakistan Stock Exchange (PSX), the partnership stems from high-level engagements between both governments aimed at strengthening bilateral collaboration in the energy sector and attracting foreign direct investment (FDI) to Pakistan’s underexplored offshore basins.

Subject to regulatory approvals, TPOC will assume operatorship of the Indus-C Block owing to its extensive experience in offshore exploration and field development.

Upon completion of the transaction, the participating interests are expected to be: PPL 35%, TPOC 25% (Operator), Mari Energies 20%, and OGDCL 20%.

For Mari Energies, this deal marks its maiden entry into Pakistan’s offshore sector, complementing its proven record in onshore exploration and development.

Meanwhile, OGDCL highlighted that the transaction reinforces its commitment to expanding offshore operations by leveraging its seismic expertise and prior exploration experience.

The collaboration among PPL, OGDCL, Mari Energies, and TPOC is expected to accelerate Pakistan’s offshore exploration efforts and unlock the country’s untapped hydrocarbon reserves, while also deepening strategic energy ties between Pakistan and Türkiye.

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