Mari Energies announced on Wednesday that it had agreed to acquire a 20% working interest in Eastern Offshore Indus-C Block from Pakistan Petroleum Limited (PPL), alongside Turkish Petroleum Overseas Company (TPOC), a wholly owned subsidiary of Türkiye Petrolleri Anonim Ortaklığı (TPAO), the national oil company of Türkiye, and Oil & Gas Development Company Limited (OGDC).
As per the notice to the Pakistan Stock Exchange (PSX), the partnership stems from high-level engagements between the Governments of Pakistan and Türkiye aimed at deepening bilateral cooperation in the energy sector and “encouraging FDI to kickstart exploration activities in Pakistan’s underexplored offshore basins”.
The company further said that after completion of the transaction and receipt of all required approvals, the participating interests
are expected to be- TPOC 25% (operator), PPL 35%, MariEnergies 20%, and OGDC 20%.
Eastern Offshore Indus C Block: PPL forms strategic partnership with TPOC
The notice further said that the collaboration with TPOC, PPL and OGDC represents a significant step toward unlocking Pakistan’s offshore hydrocarbon potential and establishing a foundation for long-term strategic cooperation in the energy sector between Pakistan and Türkiye.
On the financial front, MARI posted a profit after tax (PAT) of Rs 65.4 billion in FY25, down from PKR 77.3 billion in FY24.
