Pakistan Inks Five Oil and Gas Exploration Deals
Pakistan has signed five deals for oil and gas exploration with local private and state-owned companies that will develop three offshore and two onshore blocks, Pakistani media reported, citing a securities filing.
The companies that will be involved in the development of the five blocks include Mari Energies, Oil & Gas Development Company Limited, Pakistan Petroleum, Fatima Petroleum, Government Holdings Limited, and Turkish Petroleum Overseas Company.
Last month, the Pakistani government auctioned 40 offshore blocks and got 23 bids from four consortia involving local energy companies and Turkey’s state-owned energy major Türkiye Petrolleri Anonim Ortakl???.
The four consortia have committed $80 million in investments for the exploration phase of the blocks’ development, with potential total investments that could reach $1 billion if they move on to the production phase.
An earlier report cited Turkish energy minister Alparslan Bayraktar as saying the Turkish state energy firm had inked deals for the development of the five blocks with local Pakistani companies and was planning on beginning exploration activities in 2026.
The official also highlighted President Recep Tayyip Erdogan's earlier visit to Pakistan, which set a target of boosting bilateral trade to $5 billion. Energy and mining collaboration, Bayraktar said, will be critical in reaching—and potentially surpassing—that goal. The two countries are also exploring a joint procurement model for energy products, including LNG, to leverage scale and reduce costs.
Earlier this year, Pakistan also inked an energy deal with the United States, with President Trump saying U.S. companies will take part in the development of Pakistani oil and gas resources.
“We have just concluded a deal with the country of Pakistan, whereby Pakistan and the United States will work together on developing their massive oil reserves,” Trump wrote on Truth Social in August, following the signing of the deal. “We are in the process of choosing the Oil Company that will lead this partnership. Who knows, maybe they’ll be selling Oil to India someday!”
By Irina Slav for Oilprice.com
Turkey Strikes Major Oil and Gas Deals With Pakistan for 2026 Launch
Turkey and Pakistan have taken a major step toward deepening their energy partnership after Turkey’s state oil company TPAO signed a series of hydrocarbon exploration and production agreements with leading Pakistani energy firms. The deals, announced Tuesday by Turkey’s Energy Ministry, cover three offshore blocks in Pakistani territorial waters and two additional onshore fields.
The agreements were finalized during Energy Minister Alparslan Bayraktar’s visit to Islamabad, where he met with Prime Minister Shehbaz Sharif and senior members of Pakistan’s energy leadership, including Petroleum Minister Ali Pervaiz Malik and Federal Energy Minister Awais Ahmad Khan Leghari. Bayraktar said the agreements represent a significant expansion of bilateral cooperation and align with Ankara’s growing ambitions in overseas oil and gas ventures.
Under the new arrangements, TPAO will partner with Pakistani companies Mari Energy, Fatima, OGDCL, PPL, Prime, and GHPL to jointly explore for crude oil and natural gas. Turkey will operate one of the offshore blocks, while seismic survey vessels and drilling equipment are expected to arrive in Pakistan in 2026.
“Our aim is to start work in these fields within 2026,” Bayraktar said, noting that operations will include both seismic research and direct drilling. “We are extremely hopeful about the work here and confident these efforts will deliver concrete results for Türkiye–Pakistan cooperation.”
Bayraktar also emphasized broader plans to expand cooperation into mining. Turkey’s state-owned mining enterprises, including MTAIC and Eti Maden, are set to increase their activity in Pakistan, a country with significant untapped mineral potential.
The minister highlighted President Recep Tayyip Erdo?an’s earlier visit to Pakistan, which set a target of boosting bilateral trade to $5 billion. Energy and mining collaboration, Bayraktar said, will be critical in reaching — and potentially surpassing — that goal. The two countries are also exploring a joint procurement model for energy products, including LNG, to leverage scale and reduce costs.
Calling Pakistan “a country with huge potential” and strong historical ties to Turkey, Bayraktar said Ankara intends to further ramp up high-level visits and technical cooperation in the coming years.
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