Online Reporter
In a significant move that could reshape cross-continental energy partnerships, Russia has offered Pakistan stakes in its oil and gas fields located in Nigeria.
The proposal, aimed at strengthening bilateral ties and securing long-term energy supplies for Pakistan, highlights Moscow’s growing interest in expanding its presence in Africa’s resource-rich energy sector.
Pakistan, which previously attempted oil and gas exploration in Iraq through Pakistan Petroleum Limited (PPL) with little success, is now shifting strategy.
According to The Express Tribune, Islamabad is looking to invest in oil and gas fields already under development to reduce risk and enhance returns.
During an ongoing visit to Moscow, a Pakistani delegation led by Petroleum Minister Ali Pervaiz Malik conveyed Pakistan’s interest in acquiring stakes in such projects, particularly those in Nigeria involving Russian firms.
Russian energy giant Gazprom, led by Sergey Tumanov, General Director of Gazprom International, is spearheading the initiative and has invited Pakistan’s largest oil and gas explorer, the Oil and Gas Development Company Limited (OGDCL), to join overseas ventures.
Ahmed Hayat Lak, managing director and CEO of OGDCL, also participated in the meeting, highlighting the seriousness of Pakistan’s bid.
For Islamabad, the potential deal represents an opportunity to ease pressure on its foreign exchange reserves while diversifying its energy sources in a volatile global market.
Gazprom, Russia’s state-owned energy giant, has steadily expanded its presence in Nigeria’s oil and gas sector through strategic partnerships, joint ventures, and bilateral agreements.
Traditionally focused on natural gas exports to Europe and Asia, Gazprom is increasingly turning to Africa as part of Moscow’s broader strategy to diversify its global energy reach. — Business Insider Africa
