Turkey to explore for oil in Pakistan from next year
Turkey will commence oil and natural gas exploration in Pakistan from next year as the two countries work towards boosting bilateral trade to $5 billion.
Exploration activities will cover three offshore blocks and two onshore areas, state-run Anadolu news agency reported, citing Turkish energy and natural resources minister Alparslan Bayraktar.
The agreement was signed between state-backed Turkish Petroleum Corporation (TPAO) and Pakistan’s Mari Energies, Fatima, OGDCL, PPL, Prime, and GHPL, the report said.
TPAO will obtain licenses through partnerships for a total of five fields, with Turkey acting as the operator in one of them, Bayraktar said.
“Our seismic research vessels will arrive in Pakistan next year. Hopefully, these activities will yield results,” he said.
Bayraktar said Turkey will undertake projects in Pakistan’s mining sector through the state-owned companies and new partnerships, mirroring its activities in Africa and Central Asia.
“Our national mining companies, MTAIC and Eti Maden, will swiftly take a more active role in Pakistan as we will expand our operations in the field of mining,” the minister said.
In February President Tayyip Erdogan and Pakistan’s President Asif Ali Zardari set a goal to raise bilateral trade to $5 billion.
“These steps will help us reach, and possibly surpass, the $5 billion target,” Bayraktar said.
Trade volume surged by 30 percent year-on-year to $1.4 billion in 2024, according to Anadolu.
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