The State Concern Turkmennebit and PETRONAS Carigali (Turkmenistan) Sdn. Bhd. signed a Memorandum of Understanding during the International Forum on Attracting Foreign Investments to the Economy of Turkmenistan (TEIF 2025) held April 23-24 in Kuala Lumpur, Malaysia. The document outlines the conditions for exploration work on five offshore blocks located in Turkmenistan’s sector of the Caspian Sea.
During the forum’s plenary session, PETRONAS Group President and CEO Tengku Muhammad Taufik Tengku Kamadjaja Aziz highlighted Turkmenistan’s strategic importance as a key hub in the global energy market. He emphasized the significance of long-term and successful cooperation between the Malaysian company and Turkmenistan, as reported by Turkmenistan’s official media on Friday.
Both parties reaffirmed their commitment to deepening their partnership in the oil and gas sector and attracting investments based on the principles of equality and mutual benefit, while adhering to international law and the legislation of both countries.
PETRONAS has been operating in Turkmenistan for nearly 30 years. Key milestones include the signing of the first Production Sharing Agreement for an offshore block and the launch of a gas processing plant and terminal in Kiyanly, which has a design capacity of 5 billion cubic meters of gas and 2.4 million tons of gas condensate per year.
