ISLAMABAD: In a significant step towards enhancing bilateral cooperation in the oil and gas sector, Pakistan and Turkiye have signed a joint bidding agreement to jointly participate in an offshore bid round in Pakistan.

The agreement was signed on the sidelines of the Pakistan Minerals Investment Forum 2025, marking a new chapter in the strategic partnership between the two nations in the energy sector. The signing ceremony was witnessed by Ali Pervaiz Malik, Pakistan's Minister for Petroleum, and Alparslan Bayraktar, the Minister of Energy and Natural Resources of Turkiye. This agreement paves the way for the participation of Pakistani and Turkish companies in the offshore block bid round announced by the Government of Pakistan in February 2025.

The bid round, which covers 40 offshore blocks in the Makran and Indus basins, aims to offer exploration licenses to private and international energy companies. This initiative is expected to attract significant foreign direct investment (FDI) into Pakistan's upstream energy sector, which holds immense potential for growth and development. Among the Pakistani companies involved in this joint effort are Mari Energies Limited, Oil & Gas Development Company Limited (OGDCL), and Pakistan Petroleum Limited (PPL).

These companies have joined forces with Turkiye's state-owned enterprise, Türkiye Petrolleri Anonim Ortakl??? (TPAO), marking an important collaboration that combines the strengths and expertise of both countries in offshore oil and gas exploration. The announcement of this collaboration highlights the growing relationship between Pakistan and Turkiye, particularly in the field of energy. Speaking at the signing ceremony, Pakistan's Minister for Petroleum, Ali Pervaiz Malik, expressed optimism about the potential for successful exploration and exploitation of offshore oil and gas reserves. "Seismic studies have indicated significant offshore reserves in the Makran and Indus basins," Malik said. "This joint initiative with Turkiye will bring much-needed FDI into Pakistan, and we are committed to supporting such collaborations to unlock the full potential of our offshore regions."

Malik further emphasized the importance of leveraging international technologies, expertise, and skill sets to explore and tap into Pakistan's untapped offshore resources. He noted that the joint bidding agreement is a vital step in transforming the country's energy sector and boosting its global competitiveness. "We are committed to creating an enabling environment for foreign investments, and this agreement is a step in the right direction," he added. Alparslan Bayraktar, the Turkish Minister of Energy and Natural Resources, also expressed his satisfaction with the growing cooperation between Pakistan and Turkiye in the energy sector.

"We commend Pakistan's efforts in organizing the Future Minerals Investment Forum and fostering a positive investment climate," Bayraktar remarked. "The joint bidding agreement is an important milestone in our bilateral cooperation, and we are optimistic that it will lead to the successful exploration of the offshore blocks." The signing ceremony was attended by key figures from both countries, including Ahmed Turkoglu, CEO of Turkish Petroleum Corporation (TPAO), Faheem Haider, Managing Director of Mari Energies, Ahmad Hayat Lak, Managing Director of OGDCL, and Imran Abbasi, Managing Director of PPL. Their participation further solidified the commitment to collaborative efforts in Pakistan's offshore oil and gas exploration projects. The 40 offshore blocks in the Makran and Indus basins are considered to hold immense potential for oil and gas reserves, and the government's initiative to auction exploration licenses for these blocks reflects Pakistan's commitment to attracting foreign investment in its energy sector. 

By involving both Pakistani and Turkish companies, this joint bidding agreement is expected to bring advanced technologies, expertise, and substantial investments to Pakistan, ensuring the development of the country's offshore energy resources. This joint venture is not only poised to benefit Pakistan's energy sector but also to strengthen the long-standing bilateral relations between Pakistan and Turkiye. It is seen as a key step toward enhancing economic cooperation and fostering mutual growth in both countries. The partnership also aligns with Pakistan's broader strategy to diversify its energy sources and reduce its reliance on imported energy. As part of its energy reforms, Pakistan has been focusing on exploring its own oil and gas resources, and this agreement with Turkiye is a significant move toward realizing that vision. The offshore bid round is expected to attract several international energy companies, and the joint participation of Pakistani and Turkish firms is likely to boost Pakistan's position in the global energy market. Both countries are optimistic that this collaboration will lead to the successful exploration and exploitation of Pakistan's offshore energy resources, which will contribute to the country's economic growth and energy security in the coming years.