In a bid to claw back energy sovereignty, Pakistan has enlisted Turkish Petroleum to launch offshore drilling operations in its territorial waters, Petroleum Minister Ali Pervaiz Malik announced at a press conference here on Sunday.
The move marks Islamabad’s latest attempt to reverse a crippling import dependency that sees the country sourcing roughly 90 percent of its energy from abroad. Domestic oil production languishes at around 70,000 barrels per day — a trickle against a daily appetite of nearly 500,000 barrels.
Malik was light on operational specifics, offering no details on the drilling site, the size of the investment, or when rigs might actually hit the water. But the symbolism was unmistakable: a government scrambling to signal it is serious about digging its way out of an energy hole.
The offshore push comes alongside a broader strategic rethink. Malik revealed that Prime Minister Shehbaz Sharif and Chief of Defence Forces Field Marshal Syed Asim Munir have jointly tasked an international consultancy with drafting a comprehensive energy roadmap for the country. That blueprint is expected to land on the leadership’s desk within months.
On the fiscal front, the minister claimed the government had stanched the bleeding of circular debt in the petroleum sector and was chipping away at legacy liabilities left behind by previous administrations. He also said tenders for liquefied petroleum gas would open Monday, and that arrangements were in place to issue new gas connections — a perennial sore spot for households and industry alike.
Turning to the global picture, Malik pointed to the Iran-United States conflict as a wrecking ball in international energy markets, blaming it for the sharp spike in crude and petroleum product prices. He insisted the government had kept fuel supplies flowing despite the turbulence and was working to cushion consumers from the full force of the price shock.
Whether Turkish Petroleum’s drills can deliver the kind of gusher Pakistan needs remains an open question — but for a country running on fumes and foreign fuel, even a long shot looks worth taking.
