Turkish Petroleum to soon begin offshore drilling in Pakistan: petroleum minister

Says offshore drilling could pave the way for significant foreign investment

Petroleum Minister Ali Pervaiz Malik said on Sunday that Turkish Petroleum would soon begin offshore drilling operations in Pakistan’s territorial waters, a development he said could pave the way for significant foreign investment in the energy sector.

Addressing a press conference, the minister said the government was committed to strengthening energy security, attracting investment and ensuring transparency in the petroleum sector.

Congratulating the nation on the country’s 79th Independence Day, to be celebrated on Aug 14, Malik said Pakistan’s next major destination, after achieving strategic and diplomatic successes, was sustainable economic progress.

سلامت پورہ: سابق چیئرمین میاں رشید صاحب کے ڈیرے پر ایم پی اے ملک وحید اور غزالی سلیم بٹ کے ہمراہ پریس کانفرنس۔ pic.twitter.com/je8gjxmKKb

— Ali Pervaiz Malik (@AliPervaiz450) August 9, 2026

He announced that tenders for liquefied petroleum gas (LPG) would open on Monday and said the government had made arrangements to issue new gas connections to facilitate consumers.

Referring to the recently concluded Makkah agreement, reached through the efforts of Prime Minister Shehbaz Sharif, Field Marshal Asim Munir and Deputy Prime Minister Ishaq Dar, the minister described it as a matter of national pride.

“Pakistan has emerged as a net security provider in the region, while the combined strengths of Saudi Arabia’s economy, Turkiye’s technological advancement and Pakistan’s defence capabilities would contribute to regional stability,” he said.

Malik said the government had taken difficult economic decisions that had helped stabilise the country’s economy. He said the focus had now shifted from discussions about a possible default to accelerating economic growth.

Attributing recent financial pressures and rising petroleum prices to tensions in the Middle East, he said the Iran-US conflict had created significant challenges for global energy markets, resulting in unprecedented increases in crude oil and petroleum product prices.

Also Read: Petroleum minister defends daily fuel pricing as lawmakers question mechanism

Despite these pressures, he said, the government had ensured uninterrupted fuel supplies across the country and made every effort to protect consumers from the full impact of rising international prices.

The minister said the government remained committed to providing maximum relief to the public despite limited financial resources.

He said PM Shehbaz had introduced a transparent petroleum pricing mechanism, with all pricing calculations available on the Oil and Gas Regulatory Authority (OGRA) website.

Highlighting the country’s energy challenges, Malik said Pakistan imported around 90 per cent of its energy requirements, while domestic oil production stood at approximately 70,000 barrels per day against daily demand of around 500,000 barrels.

He stressed the need to accelerate indigenous oil and gas exploration to reduce the country’s reliance on imports.

Read: Goods transporters begin nationwide indefinite strike

The minister said the prime minister and the field marshal had tasked a leading international company with preparing a comprehensive roadmap for Pakistan’s energy sector. The roadmap, he added, would be presented to the national leadership in the coming months.

Malik said the federal cabinet had approved the refinery policy and that the government was working to resolve long-standing financial issues facing the petroleum sector.

He said the flow of circular debt had been halted and efforts were under way to clear outstanding liabilities inherited from previous administrations.