Pakistan and Türkiye have inked a series of gas and mining accords, drawing over US$300 million in fresh Turkish investment.
During a ceremony in Islamabad, the two nations signed multiple memoranda and concession agreements, covering offshore blocks and onshore exploration licences. The agreements include the assignment of the Eastern Offshore Indus-C block, as well as petroleum concessions for the Ziarat North, Sukhpur-II, Offshore Deep-C, and Offshore Deep-F blocks.
The state-owned Turkish Petroleum Overseas Company (TPOC) will take over operatorship and a 25 % working interest in Indus Offshore Block-C, partnering with local firms such as Oil & Gas Development Company (OGDC) and Mari Energies. New exploration licences were also granted to combinations of TPOC, Mari Energies, Pakistan Petroleum Limited (PPL), and others for the Deep-F, Deep-C, Sukhpur-II and Ziarat North blocks.
In addition, the two sides agreed that TPOC will set up an office in Islamabad. Talks were also held about forming a joint trading company for future petroleum procurement, part of a broader strategy to intensify energy and mining cooperation between Islamabad and Ankara.
According to the visiting Turkish Minister of Energy and Natural Resources, Alparslan Bayraktar, this deeper engagement in hydrocarbons and minerals is instrumental for achieving the mutual goal of reaching US$5 billion in annual bilateral trade.