In a notice to the Pakistan Stock Exchange, Mari Energies announced that it has entered into a farm-out agreement to acquire a 20% working interest in the block from PPL. The agreement also includes TPOC, a wholly owned subsidiary of Türkiye Petrolleri Anonim Ortakl?g? (TPAO), Türkiye’s national oil company, and Oil & Gas Development Company Limited (OGDCL).
This partnership is the result of high-level engagements between the governments of Pakistan and Türkiye aimed at deepening bilateral cooperation in the energy sector and encouraging foreign direct investment to kickstart exploration activities in Pakistan’s underexplored offshore basins.
Subject to regulatory approvals, operatorship of the block will be transferred to TPOC, which brings extensive experience in offshore exploration and field development. Following completion of the transaction and receipt of all necessary approvals, the participating interests are expected to be: TPOC 25% (Operator), PPL 35%,
Mari Energies 20%, and OGDCL 20%.
This transaction marks Mari Energies’ entry into Pakistan’s offshore basins. Building on its proven record in onshore exploration and development, the company is positioning itself for an accelerated exploration programme in the country’s offshore sector.
The collaboration between Mari Energies, TPOC, PPL, and OGDCL represents a major step toward unlocking Pakistan’s offshore hydrocarbon potential. It also establishes a foundation for long-term strategic cooperation in the energy sector between Pakistan and Türkiye.