KARACHI: Pakistan Petroleum Limited (PPL) gained strong momentum on the Pakistan Stock Exchange following the execution of its offshore Assignment Agreement with Turkish Petroleum Overseas Company (TPOC), significantly strengthening investor sentiment.
Under the agreement for Eastern Offshore Indus Block C, PPL transferred operatorship along with a 25 percent working interest to TPOC, while retaining a substantial 35 percent stake in the block. Notably, this transaction was the only fully concluded, asset-level agreement finalized by a local exploration and production company during the week of 1–5 December.
Market analysts highlighted that the partnership brings an experienced offshore operator into a technically complex deepwater block, effectively reducing PPL’s operational and execution risks while maintaining considerable upside exposure. The revised structure has materially improved PPL’s overall risk–reward profile.
The capital market response was swift and decisive. PPL’s share price closed the week near PKR 217, exceeding its previous all-time high of PKR 216.5. On 5 December alone, the stock recorded a trading volume of 19 million shares with a total traded value of PKR 4.1 billion—the highest turnover for any listed company on the PSX that day.
With trading volumes significantly outpacing other exploration and production companies, PPL emerged as the preferred institutional pick following the Türkiye partnership. Analysts also noted that beyond market performance, the agreement strengthens Pakistan–Türkiye energy cooperation and represents a key milestone in PPL’s broader diversification and offshore expansion strategy.
