The state concern Turkmenneft is strengthening its presence on the Caspian shelf by attracting new strategic partners. In May 2025, a Production Sharing Agreement (PSA) for Block I was signed between Turkmenneft, PETRONAS Carigali, and ADNOC XRG, marking a major step forward in international energy cooperation, Orient.tm reports.
Speaking at the Oil and Gas of Turkmenistan – OGT 2025 forum, Turkmenneft Chairman Guvanch Agajanov said the agreement highlights the country’s openness and investment appeal. Turkmenistan, he noted, holds estimated hydrocarbon resources exceeding 71 billion tons of oil equivalent, reinforcing its position as a reliable energy partner.
Agajanov emphasized that updated geological and geophysical data, a transparent legal framework, and favorable fiscal conditions make Turkmenistan one of the most promising destinations for exploration and long-term investment.
Amid the global energy transition, the country is focusing on deep processing and high value-added production. The modernization of the Turkmenbashi Oil Refinery Complex has expanded output of Euro-standard fuels, polypropylene, and bitumen. Plans are also under consideration for a new integrated petrochemical complex to boost production of polymers and feedstock for clean energy industries.
To improve efficiency, Turkmenneft is integrating digital technologies and artificial intelligence, including smart wells and predictive analytics, to enhance exploration and drilling performance while reducing costs.
The company also prioritizes environmental responsibility, implementing measures to cut methane emissions and increase associated gas utilization — part of its commitment to sustainable industrial development.
Agajanov reaffirmed Turkmenistan’s readiness to cooperate with international investors, technology providers, and financial institutions to advance joint projects in petrochemicals and clean energy.
CentralasianLIGHT.org
October 27, 2025