OGDC Explores JV in Libya and Vietnam with Russian, Turkish Partners

Oil and Gas Development Company (OGDC), Pakistan’s largest oil and gas explorer, is seeking to expand its footprint overseas by partnering with Russian and Turkish energy giants.

According to Express Tribune, OGDC is in advanced talks to form joint ventures with Russia’s Gazprom and Turkish Petroleum for hydrocarbon exploration in Libya and Vietnam, targeting both onshore and offshore zones.

The move is part of OGDC’s strategy to diversify energy supplies and help reduce Pakistan’s energy import bill. The company is following a model already adopted by Indian oil and gas firms, which have established joint ventures in international markets to secure energy resources.

OGDC, along with other Pakistani firms, is already involved in oil and gas exploration in an offshore block in the United Arab Emirates. Domestically, Turkish Petroleum Overseas Company recently acquired a stake in the Eastern Offshore Indus Block-C, following approval from the Economic Coordination Committee (ECC).

Under the new arrangement, Turkish Petroleum holds a 25% stake, Pakistan Petroleum Limited (PPL) holds 35%, Mari Energies holds 20%, and OGDC holds 20%. Turkish Petroleum has also taken over as the operator of the field, previously managed by PPL.

This partnership is expected to bring international offshore expertise to Pakistan, enhancing technical capabilities and operational efficiency. The consortium is preparing to drill in the block, which could attract significant foreign investment and strengthen Pakistan’s energy security if successful.

The government has recently awarded 23 offshore blocks to various exploration and production companies, including members of the current consortium. OGDC plans to replicate its joint venture model for future onshore and offshore projects with Turkish and Russian partners abroad.

Additionally, OGDC’s new management is focused on optimizing output from existing fields by utilizing modern technology. The government is also engaging with countries such as China, Azerbaijan, and Turkey to encourage their companies to invest in Pakistan’s oil and gas sector.

The latest developments follow a high-level visit by Turkish Petroleum officials to Pakistan, where they reviewed offshore geological data and expressed interest in collaborating on the Eastern Offshore Block-C alongside Mari Energies and PPL.