Turkmennebit Showcases Investment Opportunities in the Turkmen Sector of the Caspian Sea
On October 22, Batyr Dzhumaev, Deputy Chairman of the State Concern Turkmennebit, addressed the 31st Oil and Gas of Turkmenistan International Conference (OGT 2026) in Ashgabat, presenting investment opportunities across the Turkmen sector of the Caspian Sea. He noted that international energy cooperation has expanded significantly thanks to the efforts of the National Leader of the Turkmen People, Hero-Arkadag, and President Serdar Berdimuhamedov. The Turkmen Caspian offshore is divided into more than 30 licensing blocks, and investors may apply to Turkmennebit for one or more blocks. Companies meeting the qualification criteria are invited to enter into direct negotiations to conclude a production sharing agreement (PSA) or another contract model provided for under Turkmenistan's Law on Hydrocarbon Resources. According to Dzhumaev, the law guarantees investors a single tax—on profits—exemption from customs duties on imported equipment, and the right to freely dispose of their share of produced hydrocarbons. Currently, Dragon Oil, PETRONAS, and ADNOC operate offshore under production sharing agreements. In June 2026, a PSA for Blocks 19 and 20 was signed with the participation of PETRONAS Carigali (Turkmenistan) Sdn. Bhd. and the Hazarnebit state enterprise, alongside an agreement to conduct 2D seismic surveys across Blocks 11–14. In closing, Dzhumaev emphasized that Turkmennebit remains open to constructive dialogue with international companies on the basis of equality and mutual benefit.