ISLAMABAD: The Economic Coordination Committee (ECC) has approved a PPL’s request for the Assignment of Participating Interests in the Eastern Offshore Block-C, marking a significant milestone in Pakistan’s offshore exploration efforts.
Under the approved arrangement, the Participating Interests in the block will be held by Turkish Petroleum Overseas Company (TPOC) at 25 percent, Pakistan Petroleum Limited (PPL) at 35 percent, Mari Energies Limited at 20 percent, and the Oil & Gas Development Company Limited (OGDCL) at 20 percent.
The block contains a drill-ready prospect, which will now be pursued by this consortium under the operator-ship of TPOC.
Pakistan’s PPL enters into strategic partnership with Turkish Petroleum Overseas Company
The upcoming exploration well is expected to attract substantial foreign direct investment into Pakistan’s offshore sector, reinforcing the government’s commitment to strengthening the country’s reliance on indigenous energy resources.
The drilling of this planned well is anticipated to open new horizons for offshore exploration in Pakistan. In the event of this exploration success, additional opportunities in the area will be prioritised for further drilling, ultimately contributing to Pakistan’s resource base and long-term energy security.
This development aligns with the government’s recent award of 23 offshore exploration blocks to various E&P companies, including the members of this consortium, signalling strong momentum and renewed confidence in Pakistan’s offshore potential. With the ECC’s approval, the consortium is now set to advance the preparations for drilling operations, marking a new chapter in the country’s pursuit of energy security and resource development.
As a part of the Assignment Agreement, the operator-ship of the block will be transferred to the TPOC, subject to signing the deed of agreement. This will bring valuable international offshore operating experience to Pakistan’s exploration landscape, and this transition is expected to enhance technical capabilities, operational efficiency, and overall project delivery.
Copyright Business Recorder, 2025
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