A Model of Long-Term and Mutually Beneficial Partnership
President of Turkmenistan Serdar Berdimuhamedov has commended the collaboration between Turkmenistan and the Malaysian oil and gas company Petronas Carigali as a shining example of successful bilateral cooperation. The President’s remarks came during a press conference following his official visit to Malaysia on December 19.
During his visit, President Berdimuhamedov met with Petronas’ management team, led by Chairman and CEO Tan Sri Tengku M. Taufik. Discussions during the meeting focused on priorities, key areas of cooperation, the current status, and future prospects for collaboration between Turkmenistan and Petronas, in light of modern challenges in the energy sector. The President highlighted the significant role played by Petronas in unlocking Turkmenistan’s energy potential.
Since 1996, Petronas has been actively involved in hydrocarbon production projects in Turkmenistan under a Production Sharing Agreement. Notably, the Malaysian company signed a 25-year PSA for the exploration and development of Block 1, encompassing Caspian fields such as Magtymguly, Ovez, Diyarbekir, and Garagel-Deniz. This partnership has positioned Petronas as a leading producer and supplier of hydrocarbons in the region.
As Petronas celebrates its 50th anniversary in 2024, the company reaffirms its long-term commitment to Turkmenistan’s energy sector development. In addition to its operational activities, Petronas actively supports Turkmenistan’s efforts to reduce carbon dioxide emissions by 2030 through the implementation of low-carbon and climate-resilient solutions.
Furthermore, Petronas remains engaged in fostering human potential in Turkmenistan by offering training programs, internships, and advanced training for the country’s oil and gas industry professionals. The company’s participation in international oil and gas forums, such as the Oil and Gas of Turkmenistan (OGT), underscores its dedication to maintaining dialogue with Turkmenistan and other market players.
Overall, experts agree that Petronas continues to play a pivotal role in Turkmenistan’s oil and gas sector, contributing to industry development and supporting sustainable growth initiatives. The ongoing collaboration between Petronas and Turkmenistan demonstrates a strong partnership that benefits both parties and paves the way for future cooperation in the energy sector.
By Bekdurdy Amansaryev
