Petronas has invested over $12 billion in Turkmenistan in 30 years, executive says

Malaysian oil and gas company Petronas has invested more than $12 billion in Turkmenistan over its 30 years of operations in the country, Mohd Jukris Abdul Wahab, Chief Operating Officer, Executive Vice President and CEO of Petronas' Upstream Division, said. He made the announcement at the Oil and Gas of Turkmenistan – 2026 (OGT 2026) international conference and exhibition in Ashgabat.

Petronas' current operations in the country include offshore production facilities, the gas processing complex, the Kiyanly terminal and related infrastructure. Abdul Wahab said the company's long-term presence is underpinned by new agreements, including for offshore Blocks 19 and 20, seismic surveys in the northern offshore blocks, and a 25-year extension of the production-sharing agreement for Block 1, through 2050.

“A reliable energy future requires sustainable investments today – not only in resources and infrastructure, but also in technology, expertise, and the foundations that ensure long-term growth,” he said. He added that Petronas is ready to play a more significant role in integrating regional energy supply and demand hubs, and that the company remains committed to strengthening its partnership with Turkmenistan. Petronas has been operating in Turkmenistan since 1996.