PETRONAS has marked three decades of operations in Turkmenistan with the signing of new agreements aimed at expanding its upstream oil and gas activities in the country.
Through its wholly owned subsidiary, PETRONAS Carigali (Turkmenistan) Sdn Bhd, the Malaysian energy company signed the agreements during Malaysian Prime Minister Anwar Ibrahim’s official visit to Turkmenistan.
The subsidiary signed a Production Sharing Agreement with state-owned Turkmennebit and Hazarnebit covering Offshore Blocks 19 and 20. The deal gives PETRONAS Carigali a 100% participating interest in both blocks, opening up new areas for exploration.
The company also entered into a Cooperation Agreement with Turkmennebit to conduct 2D seismic studies across northern offshore areas. The studies are expected to generate additional geological data and support the evaluation of future exploration opportunities.
Separately, Malaysia and Turkmenistan signed a Framework Agreement on Long-Term Cooperation for the Development of Turkmenistan’s Hydrocarbon Resources.
The agreement creates a basis for wider collaboration in the energy sector, including the possible development of the Galkynysh gas field and opportunities in refining, gas processing and petrochemicals.
PETRONAS Upstream Chief Executive Officer Mohd Jukris Abdul Wahab said the new agreements reflected the company’s confidence in Turkmenistan’s energy potential and the long-standing partnership between the two countries.
The signing ceremony was witnessed by Malaysian Prime Minister Anwar Ibrahim and Turkmenistan President Serdar Berdimuhamedov.
As part of the 30th anniversary celebration, PETRONAS and Turkmennebit also organised an oil and gas forum and exhibition attended by more than 500 representatives from government, industry and Malaysian companies operating in Turkmenistan.
The exhibition highlighted PETRONAS’ operations and investments in the country since 1996, including its efforts to develop local skills and support communities.
According to the company, PETRONAS has trained 235 Turkmen technicians and awarded scholarships to 188 students to study at Universiti Teknologi PETRONAS and other PETRONAS training facilities in Malaysia.
Over the past three decades, more than 1,000 Turkmen nationals have worked with PETRONAS, with local employees now making up nearly 90% of the subsidiary’s workforce.
PETRONAS said it would continue working with Turkmenistan to develop its energy resources, strengthen energy security and deepen economic cooperation between the two countries.