Mari Energies buys 20% stake in Indus-C Block | The Express Tribune
Key Takeaways
- Mari Energies acquired a 20% working interest in the Eastern Offshore Indus-C Block from PPL.
- The transaction involves a partnership with TPOC (the future operator) and OGDCL.
- This deal is supported by high-level Pakistan-Türkiye government engagements to deepen energy cooperation.
- TPOC is expected to become the operator of the block upon regulatory approval.
- The final participating interests will be TPOC 25% (Operator), PPL 35%, Mari Energies 20%, and OGDCL 20%.
Mari Energies has successfully entered Pakistan's offshore basins by acquiring a 20% working interest in the Eastern Offshore Indus-C Block from Pakistan Petroleum Limited (PPL) via a farm-out agreement.
This strategic move involves a partnership with Turkish Petroleum Overseas Company (TPOC), a subsidiary of Türkiye's national oil company TPAO, and Oil & Gas Development Company Limited (OGDCL).
The collaboration is a direct result of high-level diplomatic engagements between the governments of Pakistan and Türkiye, intended to deepen bilateral cooperation and attract foreign direct investment to initiate exploration in underexplored offshore areas.
Subject to regulatory approvals, TPOC, bringing significant offshore expertise, will assume operatorship of the block.
The finalized participating interests are projected to be TPOC (Operator) at 25%, PPL at 35%, Mari Energies at 20%, and OGDCL at 20%.
This transaction signifies Mari Energies' expansion into offshore exploration and establishes a foundation for long-term strategic energy cooperation between the two nations.
