Petronas intends to further develop partnership in the fuel and energy sector of Turkmenistan

The possibilities for further development of cooperation were discussed at a meeting in the administrative building of the oil and gas complex of Turkmenistan with a delegation of the international company Petronas (Malaysia), headed by the Vice-President and Chief Executive Officer Datuk Mohd Anuar Bin Taib.

Petronas Carigali (Turkmenistan) SBN BHD has been operating in our country for more than 22 years on the basis of a 26-year product sharing contract at Blok-1 located in the Turkmen sector of the Caspian Sea. The company has invested about $ 10.7 billion in the exploration, development, and production of gas in this area, located 80 km south-west of Turkmenbashi.

Currently, the average daily production of gas condensate in the contract area is more than 3 thousand 500 tons. In 2019, the company plans to increase production to 4,129 tons.

Since 1998, the company has also been implementing an international educational program for school graduates of Turkmenistan studying at the Petronas University of Technology.

As Datuk Mohd Anuar Bin Taib noted, the richest oil and gas fields of Turkmenistan open up great opportunities for investment and productive cooperation. Expressing gratitude to President Gurbanguly Berdimuhamedov for the attention paid to cooperation with Petronas, the guest stressed the willingness to continue to provide advanced, highly efficient technologies in the field of exploration and development of hard-to-reach deposits on land and in the Turkmen sector of the Caspian Sea.

During the meeting, company representatives raised the issue of a possible extension of the agreements with Turkmenistan, and also expressed interest in partnership in the field of petrochemistry. In particular, Malaysian businessmen noted their intention to cooperate on the basis of the recently commissioned Polyethylene and Polypropylene Production Complex in Kiyanly.

Also at the meeting it was stressed that one of the priority areas of cooperation with foreign investors is the development of the gas processing industry, aimed at producing high-quality export-oriented products. In the coming years, Tukmenistan plans to implement a number of projects for the construction of new plants for the production of gas chemical products, including linear low-density polyethylene, polypropylene, polyvinyl acetate, polyvinyl chloride, methanol, liquid chlorine, sodium sulfate.

The sides also discussed other areas of mutually beneficial partnership in the context of the fuel and energy policy of Turkmenistan.

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2014