Pakistan and Turkey have signed a groundbreaking agreement to jointly explore significant oil and gas reserves in Pakistan's offshore territories. The deal was formalized during the 2025 Pakistan Minerals Investment Forum in Islamabad and focuses on 40 offshore blocks in the Makran and Indus basins.

Key players in this collaboration include Pakistani companies Mari Energies, Oil and Gas Development Company Limited (OGDCL), and Pakistan Petroleum Limited (PPL), partnering with Turkey's state-owned oil company, TPAO. The joint exploration efforts follow the recent launch of bidding rounds for these blocks in February.

Recent geological surveys suggest that Pakistan might possess the world's fourth-largest offshore oil and gas reserves, trailing behind Venezuela, Saudi Arabia, and Canada. If validated, these reserves could significantly reduce Pakistan's reliance on imported energy and provide a major boost to its economy.

Energy Minister Mohammad Ali estimates Pakistan has 235 trillion cubic feet of gas reserves, with the potential to unlock 10 percent of these reserves through $25–30 billion in investments over the next decade. Additionally, the nation’s maritime regions may house valuable minerals like cobalt, nickel, and rare earth elements, paving the way for a "blue economy" strategy encompassing marine resources, biotechnology, and ecotourism.

Despite the promising prospects, challenges such as insufficient deep-sea mining capabilities and the need for regulatory improvements must be addressed to attract large-scale investment. This collaboration with Turkey marks a strategic step toward overcoming these hurdles and unlocking Pakistan's energy potential.