October 15, 2025 (MLN): Mari Energies (PSX: MARI) has entered into a farm-out agreement to acquire a 20% working interest in the Eastern Offshore Indus-C Block from Pakistan Petroleum Limited (PPL), the Company's filing on PSX revealed today. 

The agreement also includes Turkish Petroleum Overseas Company (TPOC), a wholly owned subsidiary of Türkiye Petrolleri Anonim Ortaklığı (TPAO), the national oil company of Türkiye, and Oil & Gas Development Company Limited (OGDC).

This partnership stems from high-level engagements between the Governments of Pakistan and Türkiye aimed at deepening bilateral cooperation in the energy sector and encouraging FDI to kickstart exploration activities in Pakistan’s underexplored offshore basins.

Subject to regulatory approvals, the operatorship of the Block is to be transferred to TPOC who carry a wealth of experience in offshore exploration and field development.

Following completion of the transaction and receipt of all required approvals, the participating interests are expected to be: TPOC 25% (Operator), PPL 35%, MariEnergies 20%, and OGDC 20%.

This transaction marks MariEnergies’ entry into Pakistan’s offshore basins. Building on its proven track record in onshore exploration and development, the company is positioning itself for an accelerated exploration program in the country’s offshore basins.

The collaboration with TPOC, PPL and OGDC represents a significant step toward unlocking Pakistan’s offshore hydrocarbon potential and establishes a foundation for long-term strategic cooperation in the energy sector between Pakistan and Türkiye.

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