ASHGABAT, Turkmenistan, May 13. A production sharing agreement between Turkmennebit State Concern and Malaysia's PETRONAS will be signed during the upcoming visit of Malaysia’s Prime Minister to Turkmenistan, said Chairman of the Halk Maslahaty (Parliament) of Turkmenistan Gurbanguly Berdimuhamedov, Trend reports via the press service of the Turkmen government .
He made the announcement at a meeting with Tan Sri Mohd Hassan Marican, Chairman of the Advisory Committee on Political Affairs under the Prime Minister of Malaysia, during his visit to Ashgabat.
The statement was made in the context of preparations for the Malaysian delegation’s visit, during which a protocol on commercial terms between Turkmennebit and PETRONAS Çarigali (Turkmenistan) Sdn. Bhd. is also expected to be signed.
According to Berdimuhamedov, the planned agreement is of strategic importance for expanding long-term energy cooperation between the two countries.
Meanwhile, Malaysia has expressed interest in participating in the development of the Turkmenistan's Galkynysh gas field in order to increase production of commercial gas and expand bilateral energy cooperation.
PETRONAS (Petroliam Nasional Berhad) is Malaysia’s fully state-owned oil and gas corporation and one of the largest energy companies in Southeast Asia, with integrated operations across the entire hydrocarbons value chain in more than 100 countries. Beyond its core upstream and downstream business, the company places strong emphasis on long-term human capital development through its flagship education initiatives, particularly the PETRONAS Education Sponsorship Programme (PESP), which funds talented students for undergraduate studies at leading local and international universities, including its own Universiti Teknologi PETRONAS (UTP).
