PETRONAS and Turkmennebit Sign Memorandum of Understanding at TEIF 2025

Kuala Lumpur, The Gulf Observer: The State Concern Turkmennebit and PETRONAS Carigali (Turkmenistan) Sdn. Bhd. have officially signed a Memorandum of Understanding (MoU) during the International Forum on Attracting Foreign Investments to the Economy of Turkmenistan (TEIF 2025) held in Kuala Lumpur, Malaysia. The agreement outlines the terms and conditions for exploration work on five offshore blocks in Turkmenistan’s sector of the Caspian Sea.

The MoU, signed on April 24, 2025, marks a significant step in strengthening the partnership between Turkmenistan and PETRONAS, a Malaysian state-owned oil and gas company. The agreement underscores the shared commitment of both parties to further cooperation in the oil and gas sector, focusing on exploration efforts and investment attraction in line with international law and the legislative frameworks of both nations.

During the forum’s plenary session, PETRONAS Group President and CEO Tengku Muhammad Taufik Tengku Kamadjaja Aziz emphasized Turkmenistan’s strategic importance as a vital hub in the global energy market. He also highlighted the long-standing and successful collaboration between PETRONAS and Turkmenistan, which has been instrumental in the advancement of energy sector projects.

PETRONAS has been actively operating in Turkmenistan for nearly 30 years. Among the key milestones in the partnership is the signing of the first Production Sharing Agreement for an offshore block and the establishment of a gas processing plant and terminal in Kiyanly. The plant, which has a design capacity of 5 billion cubic meters of gas and 2.4 million tons of gas condensate per year, continues to play a pivotal role in Turkmenistan’s energy sector.

The signing of the MoU at TEIF 2025 highlights the ongoing mutual efforts to expand cooperation and attract significant foreign investment, fostering economic growth and strengthening Turkmenistan’s position within the global energy landscape.