ASHGABAT, Turkmenistan, May 23. Turkmenistan plans to expand cooperation with foreign partners in offshore oil and gas projects in the country’s sector of the Caspian Sea, Trend reports via the press service of the Turkmen Government.
The corresponding proposal was approved by President of Turkmenistan Serdar Berdimuhamedov following a report by Deputy Chairman of the Cabinet of Ministers Guvanch Agajanov on the development of licensed offshore hydrocarbon blocks in the Turkmen sector of the Caspian Sea.
The head of state instructed relevant officials to carry out the necessary organizational work for implementation of the planned initiatives.
Turkmenistan has long relied on cooperation with foreign energy companies in the development of offshore hydrocarbon resources in the Caspian Sea, primarily through production sharing agreements (PSAs). Among the largest foreign investors in the country’s energy sector are Malaysia’s Petronas, the UAE-based Dragon Oil, Italy’s Eni, and China’s CNPC.
Petronas has operated in Turkmenistan since 1996 and remains one of the key players in offshore gas production in the Caspian Sea. In 2025, the company signed a new production-sharing contract for Block I together with Abu Dhabi’s XRG and Turkmen state enterprises. The block reportedly contains more than 7 trillion cubic feet of gas resources and currently produces around 400 million cubic feet of gas per day.
Dragon Oil, meanwhile, has been developing the Cheleken contract area in the eastern Caspian under a PSA since 2000 and has invested billions of dollars into offshore production projects. Turkmenistan has also cooperated with foreign firms on seismic exploration and infrastructure development projects linked to offshore oil and gas fields.
