Another sponsor joins Turkmenistan's forum on attracting foreign investment

Oil&Gas Materials 4 May 2021 12:47 (UTC +04:00)
Another sponsor joins Turkmenistan's forum on attracting foreign investment

BAKU, Azerbaijan, May 4

By Jeila Aliyeva - Trend:

The Petronas Carigali (Turkmenistan) SDN BHD company (a subsidiary of the Malaysian Petronas) became the sponsor of the International Forum for Attracting Foreign Investments to the Oil and Gas Sector of Turkmenistan, Trend reports with reference to Nebit-Gaz electronic newspaper.

The forum will be held from May 12 through May 13 in Ashgabat, which will be attended by international experts and key participants of the global gas market, representatives of international organizations and institutions, heads and experts of leading oil and gas companies.

Three more sponsors (Dragon Oil company, China National Oil and Gas Corporation and ARETI International Group (Russia) have been revealed earlier.

Petronas is negotiating with Turkmenistan to extend the current agreement until 2038. Currently, intensive oil and gas production is underway at the Magtymguly and Diyarbekir fields.

Turkmenistan signed a 32-year contract with Petronas for the production of natural gas in the coastal zone of the Caspian Sea in 1996. Thus, the contact can be extended from 2028 to 2038.

Also, Petronas, which wants to extend the contract that will expire in 3 years, offers new proposals in accordance with the law of Turkmenistan on hydrocarbon resources.

Petronas is interested in expanding this productive partnership, offering its opportunities for implementing projects in the field of petrochemicals and other areas.


Follow the author on Twitter: @JeilaAliyeva