Oil and Gas Cooperation between Turkmenistan and Malaysia Secured with New Agreements
On June 19, the Chamber of Commerce and Industry of Turkmenistan hosted the International Scientific and Practical Conference and Exhibition "Turkmenistan – Malaysia: 30 Years of Mutually Beneficial Cooperation in the Oil and Gas Industry," with the personal participation of President Serdar Berdimuhamedov and Malaysian Prime Minister Anwar Ibrahim. The large-scale event brought together leaders of the domestic fuel and energy sector, along with delegates from 21 Malaysian, 20 Turkmen, and eight major international energy corporations.
The forum not only summarized the long-standing partnership that began in 1996 but also reflected new agreements that will shape the architecture of cooperation between the two countries for decades to come.
Opening the plenary session, President Serdar Berdimuhamedov emphasized the strategic importance of the Turkmen-Malaysian partnership as a crucial factor in stability and investment growth in the region. The head of state cited a key indicator of trust: over the years of its operations in Turkmenistan, the Malaysian state-owned giant Petronas has invested a colossal sum in the national oil and gas industry – approximately $12 billion. The President expressed sincere gratitude to the company's management and team for their high professionalism and dedication in modernizing the Turkmen fuel and energy sector.
Over the past thirty years, significant technical work has been accomplished on the Caspian shelf: five offshore platforms have been built and approximately 40 exploration, appraisal, and production wells have been drilled. This work has resulted in the production of over 44 billion cubic meters of gas and 16 million tons of liquid hydrocarbons. A modern gas processing plant, an onshore terminal, and a unique offshore metalworking facility have been built from scratch on the Turkmen coast of the Caspian Sea.
Today, alongside the ongoing development of the existing Magtymguly, Diýarbekir, and Garagöl Deňiz fields, Turkmenistan is launching commercial development at new promising sites—the Öwez and Maşrykow fields.
The main practical outcome of the conference was the signing of a package of documents marking the entry into fundamentally new geographic boundaries. Cooperation will receive a powerful boost thanks to the commencement of joint work on the development of offshore blocks 19 and 20 in the Turkmen sector of the Caspian Sea with the participation of Petronas, as well as the launch of large-scale 2D seismic exploration at offshore blocks 11, 12, 13, and 14.
Prime Minister Anwar Ibrahim called gaining access to these major gas fields a remarkable achievement that secures Petronas' leading position in the global industry and allays any long-term concerns about gas shortages, Malaysia's state news agency Bernama reported.
In his keynote speech, Malaysian Prime Minister Anwar Ibrahim emphasized that Turkmenistan's high level of trust in Malaysia's expertise guarantees exceptional profits for bilateral business. The Malaysian prime minister emphasized that the key to the country's thirty-year success in the Caspian region lies in the training of thousands of highly qualified Turkmen specialists through Petronas University and the Malaysian Technical Cooperation Program (MTCP).
The Malaysian leader emphasized that Kuala Lumpur is committed to decisively diversifying ties far beyond the oil and gas sector. The focus of their shared future is high-tech projects in artificial intelligence (AI), scientific research, digitalization, and semiconductor manufacturing, where Malaysia possesses cutting-edge global expertise.
Following a joint tour of the pavilions of the state-owned concerns Türkmengaz, Türkmennebit, the Turkmenbashi Complex of Oil Refineries, and the Siberian Oil Refinery, an official signing ceremony for the following agreements was held in the presence of the two countries' leaders:
A Production Sharing Agreement (PSA) between Türkmennebit, Petronas Carigali (Turkmenistan) Sdn. Bhd., and the state-owned enterprise Hazarnebit;
A 2D Seismic Cooperation Agreement between Türkmennebit and Petronas Carigali;
A New Project Agreement between Türkmengaz and Petronas Carigali International Ventures Sdn. Bhd.;
A Framework Agreement between the Government of Turkmenistan and the Government of Malaysia on Long-Term Cooperation in the Development of Hydrocarbon Resources in Turkmenistan.
