Turkey has taken a new step towards searching for oil and natural gas abroad. While the Oruç Reis Seismic Research Vessel continues its activities in the Somali seas, a new cooperation has been established with Pakistan. Turkish Petroleum and Pakistan's 3 national oil companies will submit a joint bid for Pakistan's tender for 40 offshore blocks.
A ceremony was held in the capital Islamabad for the joint bidding agreement. Minister of Energy and Natural Resources Alparslan Bayraktar, who attended the ceremony, said, “This step will further deepen the strategic energy partnership between Turkey and Pakistan and will also be an important threshold in terms of regional energy security.”
Spoken at the Ministerial Session
Minister Bayraktar first attended the Pakistan Mining Investment Forum as part of the Islamabad program. Speaking at the ministerial session, Minister Bayraktar said that Türkiye has a rich mineral diversity and that they have developed comprehensive strategies focusing on the entire value chain in mining.
Reform Package
Minister Bayraktar stated that they are focusing on value-added mining and that environmentally sensitive, safe and local participation-oriented studies are important in attracting investment in mining. Bayraktar, who mentioned that they are working on a reform package aimed at increasing mining investments in Türkiye, emphasized that with the implementation of these regulations that shorten and facilitate permit processes, the way will be paved for new investments.
Meeting with Ministers
Following the forum, Pakistan's Petroleum Minister Ali Pervaiz Malik and Minister of Energy for Electricity Sardar Awaiz Ahmad Khan Leghari held separate meetings, Bayraktar said.
Joint Bidding Agreement
Within the scope of the forum, a Joint Bidding Agreement was signed between Turkish Petroleum and Pakistan’s national oil companies Mari Energies, OGDCL and PPL. Minister Bayraktar, who attended the signing ceremony, said, “This step will further deepen the strategic energy partnership between Turkey and Pakistan and will also be an important threshold in terms of regional energy security. I hope the agreement will be beneficial for both countries.”
40 Block Tender
Pakistan will hold a tender for a total of 30 offshore exploration blocks, 2025 in the Makran offshore basin and 14 in the Indus offshore basin, on June 26, 40. According to the agreement, four companies, one Turkish and the other three Pakistani, will make joint bids for the blocks they have agreed on.
Meeting with Shahbaz Sharif
Minister Bayraktar was received by Pakistani Prime Minister Shahbaz Sharif as part of the Islamabad program. Energy relations between Turkey and Pakistan were discussed during the meeting. Bayraktar also met with Pakistani Land Forces Commander Asim Munir.
