19:30 - 18.06.2026
June 18, Fineko/abc.az. The Turkmennebit State Concern is poised to enter into a new agreement with Petronas Carigali (Turkmenistan) Sdn. Bhd., a subsidiary of Malaysia's state energy giant Petronas, to develop offshore licensing blocks within the Turkmen sector of the Caspian Sea.
According to ABC.AZ, the decree authorizing the transaction was officially signed by the President of Turkmenistan, Serdar Berdimuhamedov.
This development coincides with the 30th anniversary of the first Production Sharing Agreement (PSA) signed between the Government of Turkmenistan and Petronas on July 2, 1996, which laid the framework for exploring and exploiting offshore blocks in the Caspian Sea.
Total hydrocarbon resources within the Turkmen sector of the Caspian Sea are estimated at 12 billion tons of crude oil and 6.5 trillion cubic meters of natural gas.
