PPL forms strategic offshore partnership with Turkish Petroleum

October 14, 2025 (MLN): Pakistan Petroleum Limited (PSX: PPL) has finalized a major milestone in the farm-out process of the Eastern Offshore Indus C Block, marking the beginning of a strategic offshore partnership with Turkish Petroleum Overseas Company (TPOC).

TPOC is a wholly owned subsidiary of Türkiye Petrolleri Anonim Ortaklığı (TPAO), Turkiye’s national oil company.

This collaboration stems from high-level engagements between the governments of Pakistan and Turkiye, reflecting efforts to strengthen bilateral cooperation in the energy sector and attract foreign direct investment (FDI) in Pakistan’s offshore exploration activities.

As part of the agreement, PPL has transferred the operatorship of the Eastern Offshore Indus C Block to TPOC, subject to regulatory approvals.

The move underscored the commitment to incorporating international best practices into Pakistan’s offshore oil and gas exploration operations.

In parallel, Oil & Gas Development Company Limited (PSX: OGDC) and Mari Petroleum Company Limited (PSX: MARI), through their subsidiary Mari Energies Limited (MariEnergies), participated in the farm-out process after completing thorough due diligence.

Under the terms of the farm-out agreement, the participating interest (PI) has been allocated as follows:

• TPOC: 25% PI and operatorship

• OGDCL: 20% PI

• MariEnergies: 20% PI

• PPL: 35% PI (retained)

PPL will continue to play a key role in the block’s development, while TPOC’s operatorship marks a new phase of strategic energy cooperation between Pakistan and Turkiye.

This partnership is expected to unlock Pakistan’s offshore hydrocarbon potential and strengthen long-term bilateral ties, setting the stage for enhanced regional energy collaboration.

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