ISLAMABAD:
In a significant development, Pakistan and Turkiye have agreed on forging cooperation in oil and gas exploration, which came on the sidelines of Pakistan Minerals Investment Forum 2025.
Pakistan and Turkiye signed a joint bidding agreement, according to which they would jointly participate in offshore bidding round to be conducted by Islamabad.
In February 2025, the government of Pakistan announced an offshore block bid round, offering 40 blocks in Makran and Indus basins for exploration licences. This bid round is a significant opportunity for attracting foreign direct investment (FDI) in the upstream energy sector.
“We are pleased to announce that reputable Pakistani E&P (exploration & production) companies, Mari Energies, Oil & Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL), have signed a joint bidding agreement with Turkish state-owned enterprise Turkiye Petrolleri Anonim Ortakligi to jointly participate in the offshore bid round,” said a statement issued on Tuesday. “We believe that this strategic collaboration will bring much-needed FDI to Pakistan and pave the way for sharing and deploying international technologies, expertise and skillsets to explore and exploit the untapped potential of Pakistan’s offshore region.”
While meeting Turkish Minister for Energy and Natural Resources Alparslan Bayraktar, Pakistan’s Petroleum Minister Ali Pervaiz Malik expressed high hopes for bilateral cooperation. He remarked that seismic studies indicated significant offshore reserves and Pakistan was committed to providing full support and encouraging collaborative efforts to explore the potential.
Copper, gold discovered
Separately, while speaking to participants at the Pakistan Minerals Investment Forum, National Resources Limited (NRL) Chairman and Lucky Cement CEO Muhammad Ali Tabba announced that NRL had discovered significant copper-gold reserves in Chagai, Balochistan.
NRL, a 100% privately owned company of Pakistan and a subsidiary of Fatima Fertiliser, Liberty Mills and Lucky Cement, was awarded lease in October 2023. The licensed area contained two known porphyry prospects with strong exploration potential.
Over 15 months, NRL has identified 18 new prospects, one of which named “Tang Kaur” has rapidly progressed to advanced drilling stage.
Tabba told the audience that NRL had completed 13 diamond drill holes (3,517 metres) and advanced drilling at Tang Kaur was scheduled for May 2025. It will be followed by three to four years of detailed exploration, culminating in feasibility studies, while exploration of other prospects and leases continues.
Additionally, NRL has acquired a lead and zinc exploration licence adjacent to a well-known deposit, where a bankable feasibility study has already been conducted. A comprehensive metal value chain is also being studied to assess the feasibility of downstream processing.
“NRL considers indigenous populations as key stakeholders and actively supports social development through clean water, education, healthcare and local employment/businesses. Our current ratio of local employment is above 90%,” it said. NRL is actively working with the government of Balochistan and the Special Investment Facilitation Council (SIFC) to secure two additional copper and gold exploration licences in Chagai, supported by a dedicated $100 million exploration fund.
Saudi team meets oil minister
Meanwhile, a high-level Saudi delegation, led by Deputy Minister for Mining Abdulrahman Al-Belushi, met Federal Minister for Petroleum Ali Pervaiz Malik on the sidelines of Pakistan Minerals Investment Forum to discuss more collaboration in energy and mineral sectors.
The meeting focused on strengthening bilateral ties and exploring investment opportunities in Pakistan’s oil, gas and mineral resources.
Ali Pervaiz Malik highlighted Pakistan’s vast potential in the energy sector, particularly in minerals and mining, and reiterated the government’s commitment to facilitating foreign investors through an investor-friendly policy framework.
The Saudi deputy minister for mining lauded the Minerals Investment Forum, saying that such events should be held every year. Saudi Geological Survey CEO Abdullah Al Shamrani invited a team from the Geological Survey of Pakistan to visit Saudi Arabia for knowledge sharing and technological cooperation.
