Turkey to Help Explore World’s 4th Largest Oil and Gas Reserves in Pakistan

Pakistan and Turkey have signed an agreement to jointly explore newly identified offshore oil and gas reserves in Pakistan’s territorial waters, according to Turkish news agency Anadolu Ajansı. The deal was finalized during the 2025 Pakistan Minerals Investment Forum in Islamabad and covers a joint bid on 40 offshore blocks located in the Makran and Indus basins. Pakistani firms—Mari Energies, Oil and Gas Development Company Limited (OGDCL), and Pakistan Petroleum Limited (PPL)—will partner with Turkey’s state-run oil company TPAO. The bidding round for these offshore blocks began in February. The discovery, based on a three-year geological survey, suggests Pakistan may hold the world’s fourth-largest offshore oil and gas reserves, after Venezuela, Saudi Arabia, and Canada. If confirmed, the find could significantly reduce Pakistan’s energy imports and reshape its struggling economy, where about 25 percent of the population lives in poverty. Despite this potential, foreign investor interest remains limited. In 2023, Shell sold its Pakistan operations to Saudi Aramco, and an earlier auction for 18 oil and gas blocks saw poor international participation—15 blocks received no bids. Pakistan has so far struggled to meet investor expectations. Energy Minister Mohammad Ali has estimated that Pakistan holds 235 trillion cubic feet of gas reserves. He said an investment of $25–30 billion could unlock 10 percent of these reserves over the next decade, enough to ease reliance on imported energy. Pakistan’s maritime territory may also contain minerals such as cobalt, nickel, and rare earth elements. Officials are promoting a “blue economy” strategy focused on marine resources, fisheries, biotechnology, and ecotourism. However, deep-sea mining capability is currently lacking, and large-scale investment will depend on improvements in regulatory conditions.