Pakistan, Türkiye to restart offshore oil and gas search after two decades
A seismic survey vessel of Turkish Petroleum Offshore Company is expected in Karachi between November 17 and 20. It would restart offshore exploration in Pakistan after nearly 20 years.
For information only, not investment advice. Prices change quickly: check the time and source of every figure.
- Turkish seismic vessel due in Karachi between November 17 and 20
- Offshore exploration resumes after nearly two decades
- Petroleum Minister Ali Pervaiz Malik chaired a review meeting on Friday
Pakistan and Türkiye are preparing to restart offshore oil and gas exploration after a gap of nearly two decades. A seismic survey vessel operated by the Turkish Petroleum Offshore Company (TPOC) is expected to reach Karachi between November 17 and 20, according to official announcements reported by several outlets.
Federal Petroleum Minister Ali Pervaiz Malik chaired a high-level meeting on Friday to review preparations for the vessel's arrival, Associated Press of Pakistan and Business Recorder reported. Officials discussed operational, logistical, maritime and security arrangements for the exploration campaign.
Nawa-i-Waqt named the vessel as the Turkish research ship Oruc Reis. It said the ship will carry out research and surveys in Pakistani waters to identify possible oil and gas reserves under the seabed.
Daily Jang reported that Mr Malik said he would personally receive the vessel in Karachi. It also reported that Pakistan will provide assistance to Türkiye in the offshore project.
According to Daily Jang, Mr Malik described the project as an important milestone in Pakistan-Türkiye friendship, coming after the Makkah agreement. He also said the two countries would together achieve a historic success that would be remembered for generations.
The paper added that the Turkish Petroleum project manager thanked Pakistani officials for their full cooperation during the preparations.
Daily Pakistan said the development is an important step towards reviving offshore exploration and strengthening energy cooperation between the two countries. Daily Times quoted the official announcements in describing the vessel as state-of-the-art.
The reports do not give the survey area, its cost, its duration or any estimate of possible reserves. They also do not say what will happen once the survey is complete.
Background
khabr.pk reported on 6 November that the Petroleum Division said a Turkish seismic research vessel was expected in Karachi between November 17 and 20, in what would be Pakistan's first major push to restart offshore exploration in about two decades. On 5 November, khabr.pk also reported that Commerce Minister Jam Kamal Khan met Türkiye's trade minister at the COMCEC session in Istanbul.
Why it matters
Pakistan's domestic oil and gas supply affects energy costs for households and businesses. khabr.pk has recorded petrol at Rs346 per litre and high-speed diesel at Rs378 per litre on 7 November. Revived offshore exploration with a Turkish firm could add to domestic supply, though the reports give no estimate of reserves..
