Petronas in Turkmenistan: an example of long-term and mutually beneficial cooperation
President of Turkmenistan Serdar Berdimuhamedov highly praised the activities of the Malaysian oil and gas company Petronas Carigali as an example of successful bilateral cooperation. This statement was made at a press conference following the official visit of the President to Malaysia on December 19.
As part of the visit, the President of Turkmenistan met with the management of Petronas, headed by Chairman and CEO Tan Sri Tengku M. Taufik.
During the meeting, priorities, key areas, current status and prospects for further cooperation between Turkmenistan and Petronas were discussed, taking into account modern challenges in the energy sector. Particular attention was paid to the significant contribution of the Malaysian company to unlocking the energy potential of Turkmenistan.
It was emphasized that for almost three decades, Petronas has been playing an active role in the implementation of hydrocarbon production projects and has made a significant contribution to the training of qualified specialists for the country's oil and gas industry.
The parties considered the possibilities of further expanding cooperation in new areas, taking into account the economic development programs implemented in Turkmenistan, reforms in the industrial sector and a favorable business environment.
...The Malaysian company has been operating in Turkmenistan since 1996 on the basis of a Production Sharing Agreement. Petronas, having signed a 25-year PSA for the exploration and development of Block 1, which includes the Caspian fields of Magtymguly, Ovez and Diyarbekir, as well as Garagel-Deniz, became one of the first foreign companies to conclude Production Sharing Agreements with Turkmenistan.
As ORIENT previously reported, since the start of commercial oil production in 2009 at the Diyarbekir field and natural gas production in 2011 at the Magtymguly field, PC(T)SB has strengthened its position as a leading producer and supplier of hydrocarbons in the region.
In 2024, Petronas celebrates its 50th anniversary of operation. This fact subtly underlines the long-term nature of the company's presence in Turkmenistan and its desire to contribute to the development of the country's energy sector. And this large company with a global reputation confirms in practice its interest in further cooperation with Turkmenistan.
An important point: Petronas actively supports Turkmenistan's efforts to reduce carbon dioxide emissions by 2030. The company implements low-carbon and climate-resilient solutions as part of its operations in the country.
And this is fully consistent with Petronas' global strategy to achieve zero carbon emissions by 2050, which is undoubtedly one of the most relevant areas of the company's activities, given the growing attention of the global community to environmental issues and climate change.
Petronas is an active participant and sponsor of international oil and gas forums, such as Oil and Gas of Turkmenistan (OGT). And this demonstrates the company's interest in maintaining a dialogue with the Turkmen side and other market participants, as well as in promoting its technologies and solutions. In particular, Petronas acted as a gold partner of OGT in 2023 and 2024.
In addition to hydrocarbon production, Petronas continues to invest in human potential, focusing on the training of qualified specialists for the oil and gas industry of Turkmenistan. This includes training programs, internships and advanced training, which contributes to the development of Turkmen human resources.
Regular meetings of Petronas management with the top leadership of Turkmenistan, including the head of state, indicate the importance of the partnership for both parties. At these meetings, current issues of cooperation, as well as prospects for its further development, are discussed.
Many experts, taking into account all these and other facts, agree that Petronas remains a key player in the oil and gas market of Turkmenistan. As the company makes a significant contribution to the development of the industry and supports Turkmenistan's efforts in the field of sustainable development.
Bekdurdy AMANSARYEV
