Turkish Petroleum Set to Drill Offshore in Pakistani Waters Amid Energy Security Push
Petroleum Minister Ali Pervaiz Malik announced that Turkish Petroleum will soon start offshore drilling operations in Pakistan's territorial waters. This move is expected to attract increased foreign investment in Pakistan's energy sector.
The minister highlighted the need for accelerating domestic oil and gas exploration as Pakistan continues to rely heavily on imported energy, importing around 90% of its requirements. Domestic oil production currently stands at approximately 70,000 barrels per day compared to national demand of around 500,000 barrels per day.
A roadmap is being prepared by an international company for Pakistan's energy sector, which will outline measures to address the country's long-term energy challenges and is expected to be presented to the national leadership in the coming months. The government aims to strengthen domestic energy production through greater investment and technological expertise.