BAKU, Azerbaijan, June 20. Malaysia's PETRONAS
has invested $12 billion in Turkmenistan's oil and gas industry
since the start of its operations in the country.


This was reflected in a press release published by the
Government of Turkmenistan following the international conference
"Turkmenistan-Malaysia: 30 Years of Mutually Beneficial Cooperation
in the Oil and Gas Industry" held in Ashgabat.


“Over the years of its activity in our country, the company has
invested around $12 billion in Turkmenistan’s oil and gas
industry,” the press release quoted Turkmen President Serdar
Berdimuhamedov as saying.


According to the press release, PETRONAS has played a
significant role in the development of bilateral energy cooperation
between Turkmenistan and Malaysia over the past three decades.


The press release noted that five offshore platforms have been
built and around 40 exploration, appraisal and production wells
have been drilled as part of efforts to increase hydrocarbon
production.


As a result of this work, major hydrocarbon reserves have been
discovered, according to the report.







The press release said development of the Magtymguly, Diyarbekir
and Garagol-Deniz fields is currently underway.


Industrial development of the Öwez and Maşrykow fields is
planned in the near future, the press service added.


For reference, PETRONAS has maintained a presence in
Turkmenistan since July 1996, when it became the first foreign
company to sign a production-sharing agreement (PSA) for offshore
Block I in the Turkmen sector of the Caspian Sea. The block
includes the Magtymguly, Diyarbekir, and Garagol-Deniz fields and
remains one of the country’s key offshore energy assets. This year
also marked two decades of cooperation between Turkmenistan and
PETRONAS in the gas processing sector.


In May 2025, PETRONAS signed a new long-term agreement for Block
I, extending its operations in Turkmenistan through 2050. Under the
updated arrangement, the offshore project currently produces around
400 million cubic feet of natural gas per day and has access to
more than 7 trillion cubic feet of gas resources.