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News of Resume Offshore

Pakistan to Resume Offshore Oil & Gas Exploration After 20 Years

Metro53 - ISLAMABAD (Web Desk) — Offshore oil and gas exploration activities in Pakistan are set to resume after nearly two decades, with a specialized seismic survey vessel from the Turkish Petroleum Offshore Company (TPOC) expected to arrive in Karachi between November 17 and 20.

Türkiye has secured the operatorship for the Eastern Offshore Indus Block under a joint venture arrangement. In this venture, the Turkish company holds a 25% stake, Pakistan Petroleum Limited (PPL) holds 35%, while Oil and Gas Development Company Limited (OGDCL) and Mari Energies hold 20% each.

The Turkish vessel will carry out a specialized seismic survey to analyze geological structures beneath the seabed, aiding in the identification of potential hydrocarbon reserves and suitable drilling locations. However, the survey alone will not confirm the presence of commercially viable reserves; further drilling as well as technical and commercial evaluations will be required.

Federal Minister for Petroleum Ali Pervaiz Malik chaired a high-level meeting on Friday to review preparations for the vessel's arrival and the launch of the survey campaign. He directed the relevant departments to ensure the timely completion of maritime permits, port procedures, security, operational arrangements, and other essential requirements.

Terming this development a historic milestone in Pak-Turk energy cooperation, the petroleum minister expressed his intent to personally welcome the vessel upon its arrival in Karachi.

The minister assured the Turkish delegation of full government support, while TPOC’s project manager expressed satisfaction with the cooperation from Pakistani authorities and voiced optimism for the success of the survey mission.

The meeting was attended by the Secretary of Petroleum, the Director General of Petroleum Concessions, heads of OGDCL, PPL, and Government Holdings, along with representatives from the Ministries of Foreign Affairs, Defence, Interior, and Maritime Affairs, the Board of Investment, as well as relevant naval and port authorities.

As Pakistan currently relies heavily on imported oil and gas to meet its growing energy demands, a successful outcome from these new offshore exploration efforts could boost domestic energy resources and open up new avenues for foreign investment.