Turkish companies to search for oil, gas off Pakistan

Turkish companies have reached an agreement to conduct oil and natural gas exploration activities off the coast of Pakistan, Turkish Foreign Minister Fidan told a joint press briefing with his Pakistani counterpart Ishaq Dar in Islamabad on Wednesday, Report informs.

Fidan noted that work is underway to increase the mutual trade volume between Türkiye and Pakistan to $5 billion. Also, cooperation mechanisms in the fields of mining, natural gas, oil, and rare elements are being reviewed.

"In this framework, the agreement signed in April this year between Turkish Petroleum Corporation (TPAO) and Pakistan's national oil companies constitutes an extremely significant step. Thanks to this agreement, Turkish and Pakistani companies will be able to participate in oil and natural gas exploration activities off the coast of Pakistan for the first time. This will also be one of the products of the more structured work we have put forward," he emphasized.