ISLAMABAD: Managing Director, Oil and Gas Development Company Limited (OGDCL), Ahmed Hayat Lak has said that Turkish Petroleum will spearhead seismic and drilling operations in Indus Block C in partnership with OGDC, PPL and MEL. Definitive agreements signed for onshore and offshore blocks. Turkish Petroleum establishing its office in Pakistan with 15-20 members resident team.
At a recent meeting with Pakistan’s Petroleum Minister, Ali Pervaiz Malik, Turkiye Energy Minister stated that Turkiye is planning to develop additional ventures in partnership with Pakistan, particularly in oil & gas exploration, energy infrastructure, and the mining sector. “To achieve our shared goal of $5 billion in bilateral trade, significant contributions will come from deeper collaboration in energy and mining.
Turkish mining companies also interested in joint ventures and technical collaborations.
Talking with media persons, MD OGDCL stated that Reko Diq project development proceeding as per schedule. Project financing secured in accordance with project development concept i.e. 50% equity and 50% project finance.
Reko Diq financing to be highest ever financing for a mining project. International financial institutions reposed full confidence in the project and the ability of the state owned enterprises as the shareholders for the multi- billion-dollar project. Project consists of two phases with room for significant extension in due course. Pakistan side to receive $ 1.5-2 billion annually once fully operational.
OGDC moving on fast track for the Shale Pilot Project. Schlumberger and Baker Hughes engaged for technical and technological assistance. Pilot program designed to establish technical and commercial viability of shale in Pakistan. Horizontal fracking to commence in early 2026. An elaborate tight gas monetisation program already underway.
SOCAR technical team will visit Pakistan from December 8, 2025 for weeklong meetings at OGDC to evaluate opportunities in upstream petroleum sector of Pakistan. Technical sessions will cover onshore and offshore opportunities in exploration licences, leases and international collaboration.
OGDC settlement of invoices significantly improved due to policy and administrative interventions by the Government. Petroleum Division took measures for timely payments by Sui Company. Circular debt accumulation effectively contained. OGDC receiving interest payment for Term Finance Certificates as per schedule. Principal already received in full.
Turkish mining companies also interested in joint ventures and technical collaborations
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