Photo: REUTERSOil and Gas Development Company (OGDC) is looking to explore hydrocarbon reserves overseas in association with Russian and Turkish energy companies. The company's objective is to boost energy supplies from different countries to help reduce Pakistan's energy import bill. According to the sources, Pakistan is at an advanced stage of talks with Turkish and Russian firms to form partnerships in Libya and Vietnam. Under the new arrangement, the participating interests will be held by Turkish Petroleum with 25% shareholding, PPL with a 35% stake, Mari Energies with 20% and OGDC with 20%. "OGDC will follow the same model of joint venture for onshore and offshore exploration with the Turkish firm in foreign countries," an official said.

Source: Libya Today December 31, 2025 04:22 UTC