PETRONAS Marks 30 Years in Turkmenistan with New Agreements to Advance Strategic Growth

ASHGABAT, 19 June 2026 – PETRONAS, through its wholly owned subsidiary PETRONAS Carigali (Turkmenistan) Sdn. Bhd. ("PC(T)SB"), today commemorated 30 years of operations in Turkmenistan by advancing a new phase of strategic growth through the signing of a series of agreements that reinforce its long-standing partnership with the country.

The milestone coincides with the official visit of the Prime Minister of Malaysia, YAB Dato' Seri Anwar Ibrahim, to Turkmenistan, reflecting the enduring relationship between the two countries and three decades of collaboration built on mutual trust, shared aspirations and sustained value creation through the energy sector.

Building on this strong foundation, PC(T)SB entered into new agreements with State Concern Turkmennebit ("Turkmennebit") and State Enterprise Hazarnebit ("Hazarnebit"), deepening its presence in the Caspian Sea and expanding its upstream portfolio in the country.

The agreements comprise a Production Sharing Agreement (“PSA”) covering Offshore Block-19 and Block-20, as well as a Cooperation Agreement (“CA”) on 2D Seismic Studies for the Northern Offshore Blocks. Together, they represent a shared commitment to unlocking future opportunities, enhancing subsurface understanding and supporting Turkmenistan's position as a significant contributor to regional and global energy supply.

The PSA was signed by PETRONAS Chief Operating Officer and Executive Vice President & Chief Executive Officer of Upstream, Mohd Jukris Abdul Wahab, on behalf of PC(T)SB, and Chairman of Turkmennebit, Guvanch Agajanov, and Director of Hazarnebit, Esetov Amanmuhammet. The CA was signed by Mohd Jukris Abdul Wahab and Guvanch Agajanov.

Under the newly signed PSA, PC(T)SB will acquire a 100 per cent participating interest in Block-19 and Block-20, marking PETRONAS' entry into new exploration acreage in Turkmenistan. Meanwhile, the CA provides for the acquisition of new seismic data to address existing data gaps and enable a more comprehensive evaluation of the Northern Offshore Blocks.

In parallel, a Framework Agreement on Long-Term Cooperation for the Development of Hydrocarbon Resources of Turkmenistan was formalised between the Government of Malaysia, represented by Minister of Economy, YB Tuan Haji Akmal Nasrullah Mohd Nasir, and the Government of Turkmenistan, represented by Guvanch Agajanov in his capacity as the Deputy Chairman of the Cabinet of Ministers of Turkmenistan.

The agreement provides a framework for exploring broader areas of collaboration, including the potential development of the Galkynysh field, as well as opportunities across downstream and adjacent sectors such as oil refining, gas processing and gas chemicals.

The signing ceremony was witnessed by the Prime Minister of Malaysia, YAB Dato' Seri Anwar Ibrahim, and the President of Turkmenistan, His Excellency Serdar Berdimuhamedov.

Speaking at the event, Mohd Jukris Abdul Wahab said, "For three decades, PETRONAS and Turkmenistan have built a partnership defined by trust, shared ambition and a commitment to creating long-term value. Today's agreements reflect our confidence in the continued potential of Turkmenistan's energy sector and our belief in what can be achieved through enduring partnerships anchored in mutual respect and technical collaboration."

"We want to express our gratitude to YAB Prime Minister Dato’ Seri Anwar Ibrahim, His Excellency President Serdar Berdimuhamedov and the National Leader of the Turkmen People, His Excellency Gurbanguly Berdimuhamedov for their support to PETRONAS’ operations, and their leadership that has brought this Malaysia-Turkmenistan relationship to a new height. As we enter this new chapter, PETRONAS remains committed to working alongside our partners to responsibly develop resources, strengthen energy resilience and create sustainable value for all stakeholders, wherever we operate."

As part of the commemoration, PETRONAS and Turkmennebit co-hosted the Turkmenistan–Malaysia: 30 Years of Mutually Beneficial Cooperation in the Oil and Gas Sector Forum and Exhibition, bringing together more than 500 participants, including representatives from local governmental agencies, local industry players, Malaysian companies operating in Turkmenistan and members of the wider energy community.

The forum served as a platform for thought leaders and industry experts to exchange perspectives on emerging opportunities, evolving industry trends and the future of energy development in Turkmenistan. Complementing the forum, PETRONAS traced its 30-year journey in Turkmenistan with a two-day exhibition showcasing key milestones, contributions to the country's energy sector, investments in local capability development and the enduring partnerships that have shaped its presence since 1996.

Beyond its operational contributions, PETRONAS has demonstrated commitment to developing local talent and strengthening national capabilities in Turkmenistan. Over the past three decades, the company has trained 235 local technicians and provided scholarships to 188 Turkmen students to pursue studies at Universiti Teknologi PETRONAS and PETRONAS' world-class technical training facilities in Malaysia. PETRONAS has also supported community development initiatives, including the renovation of local schools in Kiyanly.

These long-term investments have helped nurture a highly skilled local workforce, with more than 1,000 Turkmen nationals employed so far, making up close to 90 per cent of PC(T)SB’s workforce in the country. Together, they reflect PETRONAS' commitment to creating lasting value through knowledge transfer, capability development and meaningful partnerships that extend beyond its operations.

As PETRONAS commemorates 30 years in Turkmenistan, the company reaffirms its commitment as a trusted and enduring partner to the country to support energy security, strengthen bilateral ties and deliver shared prosperity for the future.