Pakistan Petroleum Limited (PPL) has formally concluded the Assignment Agreement for the Eastern Offshore Indus Block C, marking a significant step forward in expanding energy cooperation between Pakistan and Türkiye. The milestone was announced through a filing to the Pakistan Stock Exchange (PSX) on Wednesday.
According to the notice, PPL has transferred a 25% Participating Interest (PI) and operatorship to Turkish Petroleum Overseas Company (TPOC), a subsidiary of Türkiye’s national oil company TPAO. Additionally, OGDCL and MariEnergies have each secured a 20% PI in the block. PPL will retain the remaining 35% share, ensuring a continued central role in the block’s development.
PPL described the agreement as a pivotal move towards unlocking Pakistan’s offshore hydrocarbon potential and further strengthening the long-term strategic energy alliance with Türkiye.
The deal follows PPL’s announcement in October of its strategic partnership with TPOC under the farm-out process for the same block. At the time, PPL highlighted that the collaboration stemmed from high-level government engagements aimed at enhancing bilateral energy cooperation and attracting foreign direct investment into Pakistan’s offshore exploration activities.
Türkiye has shown growing interest in Pakistan’s energy sector. During a recent visit, a Turkish delegation led by Minister of Energy and Natural Resources Alparslan Bayraktar reaffirmed Türkiye’s intent to pursue additional ventures in partnership with Pakistan, particularly in oil and gas exploration, energy infrastructure, and mining.
