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In a breakthrough move for Pakistan’s energy sector, Mari Energies Limited (PSX: MARI) and Oil & Gas Development Company Limited (PSX: OGDC) have joined hands to invest in the country’s offshore oil and gas exploration.
The two companies signed a farm-out agreement to each acquire a 20% working interest in the Eastern Offshore Indus-C Block from Pakistan Petroleum Limited (PSX: PPL).
The agreement also brings in the Turkish Petroleum Overseas Company (TPOC), a subsidiary of Türkiye Petrolleri Anonim Ortaklığı (TPAO) — Türkiye’s national oil company.
This collaboration signals the start of a new era of energy cooperation between Pakistan and Türkiye.
Strengthening Pakistan–Türkiye Energy Partnership
According to filings with the Pakistan Stock Exchange (PSX), the deal follows high-level talks between the governments of Pakistan and Türkiye.
The goal is to strengthen energy ties, attract foreign direct investment (FDI), and tap into Pakistan’s underexplored offshore resources.
Once the transaction is approved by regulators, TPOC will take over as the operator of the Indus-C Block, thanks to its strong track record in offshore exploration and development.
New Ownership Structure
After the deal is finalized, the participating interests in the Indus-C Block will be divided as follows:
| Company | Stake (%) | Role |
| Pakistan Petroleum Limited (PPL) | 35% | Participant |
| Turkish Petroleum Overseas Company (TPOC) | 25% | Operator |
| Mari Energies Limited (MARI) | 20% | Participant |
| Oil & Gas Development Company Limited (OGDCL) | 20% | Participant |
Expanding Into Offshore Exploration
For Mari Energies, this marks its first venture into offshore exploration in Pakistan, expanding beyond its strong record in onshore operations.
OGDCL, on the other hand, stated that the agreement reflects its continued commitment to offshore development, leveraging its experience in seismic studies and exploration.
Unlocking Pakistan’s Energy Potential
Industry analysts believe the collaboration among PPL, OGDCL, Mari Energies, and TPOC could give Pakistan’s offshore exploration efforts a major boost.
By combining local expertise with international experience, the partnership could help unlock untapped hydrocarbon reserves and strengthen Pakistan’s energy security.
The deal also marks a growing strategic alliance between Pakistan and Türkiye, as both nations work together to expand their roles in regional energy development.
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