The state concern Turkmennebit has been authorized to sign an agreement with Malaysia’s PETRONAS Carigali (Turkmenistan) Sdn. Bhd. and the concern’s state enterprise Khazarnebit for the development of licensed blocks located in Turkmenistan’s sector of the Caspian Sea, the official media of Turkmenistan reported on Wednesday.
The relevant decision was signed by President of Turkmenistan Serdar Berdimuhamedov with the aim of successfully implementing tasks set for the country’s oil and gas sector and ensuring the effective development of licensed blocks in the Turkmen sector of the Caspian Sea in accordance with Turkmenistan’s Law “On Hydrocarbon Resources.”
In 2025, PETRONAS announced the extension of its production sharing agreement with the Government of Turkmenistan until 2050.
PETRONAS Carigali (Turkmenistan) Sdn. Bhd. has operated in Turkmenistan since 1996. Under the production sharing agreement, the company is implementing oil and gas projects on Block 1, located in Turkmenistan’s sector of the Caspian Sea.
