Turkmennebit Offers Investors Access to Caspian Shelf Projects

Batyr Jumayev, deputy chairman of the State Concern Turkmennebit, spoke at the international Oil and Gas of Turkmenistan – 2026 (OGT-2026) conference and exhibition. His presentation focused on the country’s resource potential, stronger technological partnerships and attracting direct foreign investment into the national oil and gas sector.

Among the key priorities for international investors is the development of hydrocarbon resources in Turkmenistan’s sector of the Caspian Sea, which is divided into more than 30 licence blocks. A potential investor submits a formal application to Turkmennebit for a block of interest and, after checks against qualification criteria, is invited to direct negotiations. Successful talks lead to a bilateral contract, with its form adapted to specific tasks in line with best global practice.

Jumayev said Turkmenistan’s legislation provides fundamental guarantees and rights for foreign investors. “First and foremost, this is a simplified preferential fiscal system that provides only for a profit tax and subsoil use payments, with exemption from all other mandatory fees.” Investors also gain exemption from mandatory registration of equipment import and export contracts with the State Commodity and Raw Materials Exchange, and customs duties on necessary materials and extracted hydrocarbons are cancelled. He added that the concern is open to constructive dialogue and cooperation on the basis of equality and mutual benefit.