ISLAMABAD: Pakistan and Turkiye on Tuesday formalised a significant expansion of energy cooperation by signing five memorandums of understanding and deeds of assignment related to oil and gas exploration.
The agreements were concluded during the visit of a high-level Turkish delegation led by Minister for Energy and Natural Resources Alparslan Bayraktar, who met Prime Minister Shehbaz Sharif, Chief of Army Staff Field Marshal Asim Munir, Petroleum Minister Ali Pervaiz Malik and Power Minister Awais Leghari.
Prime Minister Sharif witnessed the exchange of agreements covering major exploration blocks, including Eastern Offshore Indus-C, Ziarat North, Sukhpur-II, Deep C, and Offshore Deep F.
He highlighted the deep-rooted and historic ties between Pakistan and Turkiye and expressed satisfaction with the strengthening trajectory of bilateral relations. He welcomed Turkish Petroleum’s growing participation in both offshore and onshore exploration in Pakistan, calling it an important milestone in energy collaboration.
Both sides reaffirmed their commitment to enhancing cooperation not only in petroleum exploration but also in mining, minerals, and potential equity participation in Pakistan’s power sector.
The two governments also agreed on future high-level engagements, including an upcoming ministerial visit from Pakistan to Turkiye to explore further opportunities.
Turkish Energy Minister Bayraktar said Turkiye plans to expand joint ventures in oil and gas exploration, energy infrastructure, and mining, stressing that deeper cooperation in these sectors would contribute significantly to achieving the shared goal of $5 billion in bilateral trade. He noted Pakistan’s vast mineral resources and confirmed that a Turkish mining company had joined the delegation to explore investment prospects.
Senior executives from OGDCL, PPL and Mari Energies briefed the delegation on existing and upcoming projects, including opportunities in shale and tight gas.
The visiting officials also announced that Turkish Petroleum will open an office in Islamabad this month. Both sides agreed to explore the creation of a joint trading company for petroleum procurement and to facilitate greater private-sector participation, including in Pakistan’s forthcoming power distribution privatisation process.
