ASHGABAT, Turkmenistan, October 22. Malaysia’s
Petronas Carigali (Turkmenistan) plans to implement two new field
development projects in Offshore Block 1 in the Turkmen sector of
the Caspian Sea – one for natural gas and one for oil, the CEO of
Petronas Carigali (Turkmenistan), Ismadi bin Ismail said, Trend's special correspondent
reports.
He made the announcement at a panel discussion on Investment and
development opportunities in the Turkmen sector of the Caspian sea
as part of the 31st International Conference and Exhibition “Oil
and Gas of Turkmenistan” (OGT 2026) in Ashgabat.
According to Ismail, the company also intends to begin drilling
in Blocks 19 and 20 in December 2026. He noted that the remaining
resource potential of Block 1 is estimated at more than 70 trillion
cubic feet (about 2 trillion cubic meters) of gas and over 200
million barrels of oil and liquid hydrocarbons. To realize this
potential, the company needs to continue developing new fields and
expanding its marketing capabilities.
“We are currently working on at least two new field development
projects: one focused on gas and the other on oil production,” he
noted.
Ismadi bin Ismail reported that Petronas Carigali (Turkmenistan)
has the capacity to produce more than 500 million standard cubic
feet of gas and approximately 30,000 barrels of liquid hydrocarbons
per day. The company intends to increase production from Block 1 in
collaboration with its partners and the state-owned Turkmengaz.
He also emphasized the need to expand sales markets to fully
commercialize the remaining resources. According to him, Petronas
is working with its partners and Turkmengaz to identify additional
opportunities to monetize gas and other hydrocarbons.
“In order to monetize the entire volume of 70 trillion cubic
feet of gas and 200 million barrels of liquid hydrocarbons, we need
new markets,” Ismadi bin Ismail stated.
Moreover, he noted that in June 2026, the company signed a
production-sharing agreement for Blocks 19 and 20 and expects to
begin drilling there in December 2026. In addition, Petronas has
signed an agreement for 2D seismic surveys in the northern offshore
blocks 11, 12, 13, and 14. According to Ismail, these projects open
up opportunities for geological exploration, the involvement of
service companies, and the development of Turkmenistan’s oil and
gas industry.
Petronas has been operating in Turkmenistan since
1996. In May 2025, the company, XRG, Khazarnebit, and the
state-owned Turkmennebit signed a new production-sharing agreement
for Block 1, as well as a long-term gas sales agreement with
Turkmengaz. According to Petronas, the company is the operator of
the block with a 57% stake, while XRG holds 38% and Khazarnebit
holds 5%.
Meanwhile, the second day of the 31st International Conference
and Exhibition “Oil and Gas of Turkmenistan” (OGT 2026) has begun
in Ashgabat. As part of the event, a session is being held on the
topic “Investment and development opportunities in the Turkmen
sector of the Caspian Sea.” Discussions are focusing on investment
opportunities for developing the Turkmen sector, prospects for
offshore exploration and production of hydrocarbons, and the
development of international partnerships.
The agenda also includes existing and new production-sharing
agreements (PSAs), as well as modern seismic survey programs
designed to help assess resource potential and prepare promising
blocks for development.
