Petronas eyes to expand oil & gas co-op with Turkmenistan

Oil&Gas Materials 21 November 2018 21:21 (UTC +04:00)

Ashgabat, Turkmenistan, Nov. 21

By Huseyn Hasanov – Trend:

Malaysian company Petronas has been working in Turkmenistan since 1996, having invested about $10.5 billion in the local fuel and energy industry, General Manager of Petronas Carigali (Turkmenistan) Sdn. Bhd., Yat Hong Teh told the "Neutral Turkmenistan" newspaper in an interview.

All these years, Petronas has not only invested, but also built and adjusted the equipment, which now allows to produce more than 5 billion cubic meters of gas a year and 35,000-40,000 barrels per day of oil, he said.

Petronas looks forward to further expand this mutually beneficial partnership, he said.

A coastal block in the Caspian Sea has been allocated to Petronas Carigali for oil and gas production, and this is a very promising project, taking into account the amount of hydrocarbons in the area, Yat Hong Teh said.