Turkmenistan and Malaysia have signed and exchanged a set of agreements covering aviation, transport, science, and education cooperation.
This was reported in a press release published by the press service of the Government of Turkmenistan following the official visit of Malaysian Prime Minister Anwar Ibrahim.
The documents were signed during the Malaysia-Turkmenistan Forum in Ashgabat in the presence of President Serdar Berdimuhamedov and Prime Minister Anwar Ibrahim.
The core pillar of economic cooperation is the energy sector, where Malaysia’s state oil and gas company PETRONAS has operated in Turkmenistan since 1996 under production-sharing agreements in the Caspian Sea offshore blocks. The company has invested heavily in upstream development and gas production, making Malaysia one of the key Asian energy partners of Turkmenistan.
Malaysia's PETRONAS has invested $12 billion in Turkmenistan's oil and gas industry since the start of its operations in the country.
This was reflected in a press release published by the Government of Turkmenistan following the international conference "Turkmenistan-Malaysia: 30 Years of Mutually Beneficial Cooperation in the Oil and Gas Industry" held in Ashgabat.
“Over the years of its activity in our country, the company has invested around $12 billion in Turkmenistan’s oil and gas industry,” the press release quoted Turkmen President Serdar Berdimuhamedov as saying.
According to the press release, PETRONAS has played a significant role in the development of bilateral energy cooperation between Turkmenistan and Malaysia over the past three decades.
The press release noted that five offshore platforms have been built and around 40 exploration, appraisal and production wells have been drilled as part of efforts to increase hydrocarbon production.
As a result of this work, major hydrocarbon reserves have been discovered, according to the report.
The press release said development of the Magtymguly, Diyarbekir and Garagol-Deniz fields is currently underway.
Industrial development of the Öwez and Maşrykow fields is planned in the near future, the press service added.
For reference, PETRONAS has maintained a presence in Turkmenistan since July 1996, when it became the first foreign company to sign a production-sharing agreement (PSA) for offshore Block I in the Turkmen sector of the Caspian Sea. The block includes the Magtymguly, Diyarbekir, and Garagol-Deniz fields and remains one of the country’s key offshore energy assets. This year also marked two decades of cooperation between Turkmenistan and PETRONAS in the gas processing sector.
In May 2025, PETRONAS signed a new long-term agreement for Block I, extending its operations in Turkmenistan through 2050. Under the updated arrangement, the offshore project currently produces around 400 million cubic feet of natural gas per day and has access to more than 7 trillion cubic feet of gas resources.