Pakistan eyes 3.5bn barrels of oil, 66 TCF of gas as Turkiye’s seismic vessel heads to Karachi

ISLAMABAD: After nearly two decades away from the high seas, Pakistan is gearing up to revive its offshore oil and gas hunt, with Turkiye’s seismic research vessel Oruç Reis expected to reach Karachi between November 17 and 20 to scan the seabed for potential hydrocarbon deposits.

The arrival of the Turkish vessel marks a significant step in Pakistan’s efforts to explore its largely untapped offshore resources, attract foreign investment and reduce its dependence on imported energy.

In this regard, Petroleum Minister Ali Pervaiz Malik chaired a meeting on Friday to review arrangements for the vessel’s arrival, including security, maritime coordination and operational requirements.

Malik indicated that he would personally welcome the Turkish vessel in Karachi, describing the project as an important milestone in Pakistan-Turkiye relations and bilateral energy cooperation.

He said Pakistan would extend full support to Turkiye’s offshore exploration project, adding that the two countries could achieve a historic breakthrough through their joint efforts.

The petroleum minister directed all relevant institutions to maintain close coordination to ensure the vessel’s arrival and offshore operations proceeded smoothly.

The Turkish Petroleum project manager thanked Pakistani authorities for their cooperation and support.

Pakistan’s offshore hydrocarbon potential

Pakistan’s offshore sedimentary basins are believed to hold substantial undiscovered oil and gas resources.

An assessment cited in the Petroleum Division’s 2025 investment brochure estimated the country’s yet-to-find offshore and onshore hydrocarbon potential at approximately 3.585 billion barrels of oil and 66.26 trillion cubic feet of natural gas.

These are estimates of undiscovered resources rather than proven or commercially recoverable reserves. Their actual potential can only be established through exploration and drilling.

Pakistan’s existing recoverable reserves stood at an estimated 276 million barrels of oil and 20.664 trillion cubic feet of natural gas by June 2026, according to an Arif Habib Limited research report based on Pakistan Petroleum Information Service data.

The country currently produces around 65,000 barrels of oil and approximately three billion cubic feet of gas daily, while its gas demand is estimated at around four billion cubic feet.

Pakistan spends billions of dollars annually on imported energy, including liquefied natural gas (LNG), making the development of domestic resources an important part of its energy security strategy.

How Pakistan-Turkiye exploration partnership began

Pakistan and Turkiye formally moved towards joint offshore exploration in April 2025, when their state-backed and domestic energy companies signed an agreement to participate jointly in Pakistan’s offshore bidding round.

The government had offered 40 offshore blocks in the Indus and Makran basins, marking the first such licensing round since 2007.

In October 2025, Pakistan awarded 23 of the 40 blocks to four consortia led by domestic exploration companies, with international partners including Turkiye’s state-owned Turkish Petroleum Corporation (TPAO).

The successful bids covered approximately 53,500 square kilometres of offshore territory.

The four consortia committed around $80 million for exploration work during the initial three-year period. Investment could rise to between $750 million and $1 billion if the projects advance to exploratory drilling.

A major development came in October 2025 when Pakistan Petroleum Limited (PPL) agreed to transfer operatorship of Eastern Offshore Indus Block-C to Turkish Petroleum Overseas Company (TPOC), a wholly owned subsidiary of TPAO.

Under the arrangement, TPOC received a 25 per cent participating interest, while PPL retained 35 per cent. The Oil and Gas Development Company Limited (OGDCL) and MariEnergies each received a 20 per cent stake.

On December 2, 2025, Prime Minister Shehbaz Sharif witnessed the signing of further exploration and production agreements involving Turkish Petroleum and Pakistani companies for three offshore and two onshore areas.

The agreements involved Pakistani companies including MariEnergies, Fatima Petroleum, OGDCL, PPL, Prime Energy and Government Holdings.

Turkiye’s Energy and Natural Resources Minister Alparslan Bayraktar had said seismic research vessels would arrive in Pakistan in 2026 to begin exploration work.

Previous exploration attempts

Pakistan’s offshore exploration history has been marked by limited drilling and unsuccessful attempts to establish commercially viable reserves.

Only 18 offshore wells have been drilled since independence in 1947, according to Reuters.

One of the most significant recent attempts was the Kekra-1 well in 2019, drilled by a consortium led by US energy giant ExxonMobil. The well failed to establish commercially viable hydrocarbon deposits, prompting ExxonMobil’s subsequent exit from Pakistan.

The lack of successful discoveries, investment challenges and geological risks have constrained offshore exploration.

The renewed partnership with Turkiye is expected to bring international expertise, technology and investment into a sector that has remained largely underexplored.

However, the seismic survey is only an initial stage. Its findings will help identify promising geological structures before exploratory drilling can establish whether commercially viable oil and gas deposits exist.

The government hopes the renewed exploration drive will strengthen domestic energy supplies, reduce import dependence and open new opportunities for international investment in Pakistan’s petroleum sector.