ASHGABAT, Turkmenistan, April 28. The State Concern Turkmennebit and Petronas Carigali (Turkmenistan) Sdn. Bhd. have signed a Memorandum of Understanding (MoU) outlining the terms for operations on five offshore exploration blocks in Turkmenistan’s sector of the Caspian Sea, Trend reports.
The document was signed during the International Forum for Attracting Foreign Investment to Turkmenistan’s Economy (TEIF 2025), held in Kuala Lumpur, Malaysia.
During the forum’s plenary session, Tengku Muhammad Tawfik Tengku Kamadja Aziz, President and CEO of PETRONAS Group, emphasized Turkmenistan's strategic importance as a key player in the global energy sector. He underscored the significance of long-term and successful cooperation between the Malaysian company and Turkmenistan.
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 legal frameworks of both countries.
PETRONAS has been operating in Turkmenistan for nearly 30 years. Significant milestones include the signing of the first Production Sharing Agreement for the offshore area and the launch of the gas processing plant and terminal in Kiyanly, with a design capacity of 5 billion cubic meters of gas and 2.4 million tons of gas condensate per year.