PETALING JAYA: Petroliam Nasional Bhd (Petronas), through wholly owned subsidiary Petronas Carigali (Turkmenistan) Sdn Bhd, commemorated 30 years of operations in Turkmenistan by advancing a new phase of strategic growth through the signing of a series of agreements that reinforce its long-standing partnership with the country.
The milestone coincides with the official visit of Prime Minister Datuk Seri Anwar Ibrahim to Turkmenistan, reflecting the enduring relationship between the two countries and three decades of collaboration built on mutual trust, shared aspirations, and sustained value creation in the energy sector.
Building on the strong foundation, Petronas Carigali (Turkmenistan) signed agreements with State Concern Turkmennebit and State Enterprise Hazarnebit, deepening its presence in the Caspian Sea and expanding its upstream portfolio in the country.
They comprise a production sharing agreement (PSA) covering the offshore Block-19 and Block-20, as well as a cooperation agreement (CA) on 2D Seismic Studies for the Northern Offshore Blocks.
Together, they represent a shared commitment to unlock future opportunities, enhancing subsurface understanding and supporting Turkmenistan’s position as a significant contributor to regional and global energy supply.
The PSA was signed by Petronas COO and executive vice-president and CEO of upstream Mohd Jukris Abdul Wahab, on behalf of Petronas Carigali (Turkmenistan), and Turkmennebit chairman Guvanch Agajanov and Hazarnebit director Esetov Amanmuhammet. The CA was signed by Mohd Jukris and Agajanov.
Under the newly signed PSA, Petronas Carigali (Turkmenistan) will acquire a 100% participating interest in Block-19 and Block-20, marking Petronas’ entry into new exploration acreage in Turkmenistan.
Meanwhile, the CA provides for the acquisition of new seismic data to address existing data gaps and enable a more comprehensive evaluation of the Northern Offshore Blocks.
In parallel, a framework agreement on long-term cooperation for the development of hydrocarbon resources of Turkmenistan was formalised between the Malaysian government, represented by Economy Minister Akmal Nasrullah Mohd Nasir, and the Turkmenistan government, represented by Agajanov in his capacity as the deputy chairman of the Cabinet of Ministers of Turkmenistan.
The agreement provides a framework for exploring broader areas of collaboration, including the potential development of the Galkynysh Field and opportunities in downstream and adjacent sectors such as oil refining, gas processing and gas chemicals.
The signing ceremony was witnessed by Anwar and Turkmenistan President Serdar Berdimuhamedov.
Speaking at the event, Mohd Jukris said that for three decades, Petronas and Turkmenistan have built a partnership defined by trust, shared ambition and a commitment to creating long-term value.
“Today’s agreements reflect our confidence in the continued potential of Turkmenistan’s energy sector and our belief in what can be achieved through enduring partnerships anchored in mutual respect and technical collaboration.
“We want to express our gratitude to Datuk Seri Anwar Ibrahim, His Excellency President Serdar Berdimuhamedov and the National Leader of the Turkmen People, His Excellency Gurbanguly Berdimuhamedov, for their support to Petronas’ operations, and their leadership that has brought this Malaysia-Turkmenistan relationship to a new height.
“As we enter this new chapter, Petronas remains committed to working alongside our partners to responsibly develop resources, strengthen energy resilience and create sustainable value for all stakeholders, wherever we operate,“ he said.
As part of the commemoration, Petronas and Turkmennebit co-hosted the Turkmenistan-Malaysia: 30 Years of Mutually Beneficial Cooperation in the Oil and Gas Sector Forum and Exhibition, bringing together more than 500 participants, including representatives from local governmental agencies, local industry players, Malaysian companies operating in Turkmenistan and members of the wider energy community.
The forum served as a platform for thought leaders and industry experts to exchange perspectives on emerging opportunities, evolving industry trends and the future of energy development in Turkmenistan.
