ASHGABAT, Turkmenistan, May 23. Turkmenistan
plans to expand cooperation with foreign partners in offshore oil
and gas projects in the country’s sector of the Caspian Sea,
Trend reports via the
press service of the Turkmen Government.
The corresponding proposal was approved by President of
Turkmenistan Serdar Berdimuhamedov following a report by Deputy
Chairman of the Cabinet of Ministers Guvanch Agajanov on the
development of licensed offshore hydrocarbon blocks in the Turkmen
sector of the Caspian Sea.
The head of state instructed relevant officials to carry out the
necessary organizational work for implementation of the planned
initiatives.
Turkmenistan has long relied on cooperation with foreign energy
companies in the development of offshore hydrocarbon resources in
the Caspian Sea, primarily through production sharing agreements
(PSAs). Among the largest foreign investors in the country’s energy
sector are Malaysia’s Petronas, the UAE-based Dragon Oil, Italy’s
Eni, and China’s CNPC.
Petronas has operated in Turkmenistan since 1996 and remains one
of the key players in offshore gas production in the Caspian Sea.
In 2025, the company signed a new production-sharing contract for
Block I together with Abu Dhabi’s XRG and Turkmen state
enterprises. The block reportedly contains more than 7 trillion
cubic feet of gas resources and currently produces around 400
million cubic feet of gas per day.
Dragon Oil, meanwhile, has been developing the Cheleken contract
area in the eastern Caspian under a PSA since 2000 and has invested
billions of dollars into offshore production projects. Turkmenistan
has also cooperated with foreign firms on seismic exploration and
infrastructure development projects linked to offshore oil and gas
fields.
