UAE oil company inks MoU with Turkmenistan
Ashgabat, Turkmenistan, March 16
By Huseyn Hasanov – Trend:
Turkmenistan’s Turkmengaz State Concern and the Mubadala Petroleum LLC (UAE) signed a memorandum of understanding in Abu Dhabi, the Turkmenistan State News Agency reported.
In addition, the parties signed a confidentiality agreement.
The documents were signed after the talks in the UAE capital between Turkmen President Gurbanguly Berdimuhamedov and Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces Sheikh Mohammed bin Zayed bin Sultan Al-Nahyan.
In 2013, it was reported that the Mubadala Petroleum LLC is in the process of negotiations on the prospects for cooperation in the Turkmen section of the Caspian Sea.
The international tender in this part of the Caspian Sea involves 32 licensed blocks with estimated resources of 11 billion tons of oil and 5.5 trillion cubic meters of gas, excluding already contracted blocks.