Turkmenistan Plans New Offshore Oil, Gas Projects With Foreign Partners

2026-05-23 08:10:28

(MENAFN- Trend News Agency) 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.

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