T眉rkiye and Pakistan signed an agreement Tuesday for jointly bidding for offshore oil and gas exploration across 40 blocks in the South Asian country.
The joint bidding agreement was signed on the margins of the 2025 Pakistan Minerals Investment Forum in the capital Islamabad, said a statement from Pakistan鈥檚 Petroleum Ministry.
In February, the government of Pakistan announced a bidding round offering 40 offshore blocks in the Makran and Indus basins for the granting of exploration licenses, it added.
鈥淭his bid round is a significant opportunity for attracting foreign direct investment (FDI) in the country's upstream energy sector,鈥� the statement said.
Pakistan鈥檚 Mari Energies Limited, Oil and Gas Development Company Limited and Pakistan Petroleum Limited signed the agreement with Turkish state-owned enterprise T眉rkiye Petrolleri Anonim Ortakl谋臒谋 (TPAO) to jointly participate in the offshore bidding round.
鈥淲e believe that this strategic collaboration will bring much-needed FDI to Pakistan and pave the way for the sharing and deployment of international technologies, expertise and skillsets to explore and exploit the untapped potential of Pakistan's offshore region,鈥� the statement said.
Turkish Minister for Energy and Natural Resources Alparslan Bayraktar along with Pakistan鈥檚 Petroleum Minister Ali Pervaiz Malik witnessed the signing ceremony.
Expressing high hopes for Pakistan- T眉rkiye cooperation, Malik said that Islamabad is committed to providing 鈥渇ull support鈥� and 鈥渟trongly encourages鈥� such collaborative efforts to explore its offshore reserves.
Bayraktar commended the holding of the minerals investment forum by Islamabad.
By Aamir Latif in Karachi, Pakistan
Anadolu Agency
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