Pakistan and Turkiye have taken a significant step to strengthen their energy cooperation by signing gas and mining agreements valued at over $300 million, focusing on accelerating offshore exploration and expanding collaboration across multiple energy sectors. The agreements, witnessed by Prime Minister Shehbaz Sharif, include the granting of new petroleum concessions and the transfer of a 25% working interest in the Indus Offshore Block-C to Turkish Petroleum, signaling a deeper strategic partnership in hydrocarbon exploration and development.
Turkish Energy Minister Alparslan Bayraktar highlighted that both countries aim to enhance bilateral cooperation in energy, contributing to their shared goal of reaching a $5 billion trade target. The agreements are expected to facilitate knowledge sharing, technology transfer, and joint investment in exploration and production activities, which will not only increase energy output but also strengthen the broader economic ties between Pakistan and Turkiye.
In addition to energy sector collaboration, Pakistan welcomed Turkish interest in its upcoming DISCO (Distribution Companies) privatization plans, indicating a potential expansion of Turkish investment in Pakistan’s power distribution and infrastructure sectors. To ensure smooth implementation of these joint projects, Turkish Petroleum will establish an office in Islamabad this month, which will serve as a hub for coordination, project management, and strategic planning. These initiatives are part of a broader effort to enhance energy security, attract foreign investment, and promote sustainable development while reinforcing the economic and diplomatic relationship between Pakistan and Turkiye.
