Pakistan’s Economic Coordination Committee (ECC) has approved the transfer of operatorship for Eastern Offshore Indus Block-C to Turkish Petroleum Overseas Company (TPOC), reported Reuters.
The decision follows a farm-out agreement between Pakistan Petroleum Limited (PPL), the Oil & Gas Development Company (OGDCL) and Mari Energies.
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Following the ECC’s decision, TPOC can now assume operational control of the offshore block after the finalisation of a formal agreement.
PPL, which initially held operatorship, has reduced its stake to 35%. TPOC will be the new operator with a 25% interest, while Mari Energies and OGDCL will also hold shares in the block.
The consortium is preparing to begin drilling operations on a drill-ready prospect within the block.
Khurram Schehzad, adviser to Pakistan’s Finance Ministry, stated on X: “This will bring valuable international offshore operating experience to Pakistan’s exploration landscape, and this transition is expected to enhance technical capabilities, operational efficiency and overall project delivery.”
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By GlobalDataThe move could attract additional foreign investment to the sector, he added.
In addition to the offshore development, the TPOC-led consortium has secured interests in two onshore blocks, Ziarat North and Sukhpur-II.
For Ziarat North, Mari Energies will be the operator (33.16%), alongside OGDCL and PPL (24.87%), TPOC (10%) and Government Holdings Private (7.10%).
The Sukhpur-II block will be operated by Prime International Oil & Gas Company (Prime) (25%), together with OGDCL and Mari Energies (30%), and TPOC (15%).
The ECC’s approval is expected to facilitate further exploration and drilling activities in both offshore and onshore blocks.
In October this year, Pakistan awarded 23 of 40 offshore blocks offered, covering around 53,500km². OGDCL, PPL and Prime received a provisional award of eight exploration blocks offshore Pakistan.
