Turkmenistan President Serdar Berdimuhamedov signed a decree authorizing the Turkmennebit State Concern to enter into an agreement with Petronas Çarigali (Turkmenistan) Sdn. Bhd to develop offshore license blocks. The corresponding document was published in central media in Turkmenistan on June 18.
According to the decree, the Turkmennebit State Concern has been authorized to enter into an agreement to develop license blocks in the Turkmen sector of the Caspian Sea between the Turkmennebit State Concern, the Malaysian company Petronas Çarigali (Turkmenistan) Sdn. Bhd, and the Concern's state-owned enterprise Hazarnebit.
The resolution was adopted in order to successfully fulfill the tasks set for the oil and gas industry, as well as the effective development of licensed blocks located in the Turkmen sector of the Caspian Sea, based on the Law of Turkmenistan "On Hydrocarbon Resources".
