FM: Turkish firms to begin energy exploration off Pakistan

ISLAMABAD

Turkish companies will conduct oil and natural gas exploration activities off the coast of Pakistan, Foreign Minister Hakan Fidan announced on July 9.

During a joint press conference with Pakistan’s Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar in Islamabad, Fidan said both countries are evaluating cooperation mechanisms in sectors such as mining, natural gas, oil and rare earth elements, amid ongoing efforts to boost the bilateral trade volume to $5 billion.

"In this context, the agreement signed in April between Turkish Petroleum Corporation (TPAO) and Pakistan’s national oil companies represents a highly significant step forward," Fidan said.

Thanks to the deal, Turkish and Pakistani firms will be able to jointly explore oil and gas in Pakistan’s offshore zones — an unprecedented move in the history of Turkish-Pakistani energy collaboration.

“This is one of the outcomes of the more institutionalized approach we are working to establish,” he added.

Dar said Islamabad and Ankara agreed to further bolster cooperation in a string of areas, including economy, the defense industry, energy and infrastructure.

Lauding the Turkish defense industry, he said Islamabad wishes to further strengthen its ongoing strategic and defense industries cooperation and promotion of peace and stability in the region.

The two sides are "actively" engaged in different activities, including capacity building in counterterrorism, the Pakistani top diplomat said.

Turkish companies will also be participating in the privatization of distribution companies in the power sector, he added.

The two sides, Dar said, are pursuing the establishment of a special economic zone dedicated to Turkish entrepreneurs in Karachi and Istanbul.

"We are actively following up on benefiting from Turkish experience and expertise in ship breaking and storage and efficient use of agricultural water," he stated.

Dar said Islamabad and Ankara have agreed to revive the long-dormant joint ministerial commission after an 11-year hiatus, which will be co-chaired by Pakistan's Commerce Minister Jam Kamal and Turkish Defense Minister Yaşar Güler.

"All this work will lay a solid foundation for the eighth high-level Strategic Cooperation Council," which will be held next year in Türkiye, he added.