In a strategic move to broaden its investment horizons, Turkmenistan will host the International Forum to Attract Foreign Investments in Turkmenistan’s Economy (TEIF 2025) in Kuala Lumpur, Malaysia, on April 23-24, 2025. This event marks a significant effort by the country to attract foreign investments from the Southeast Asian region, known for its dynamic economic growth and development.
The participation of Petronas as a premier partner underscores the strategic importance of this forum. This collaboration highlights the deepening ties between Turkmenistan and Malaysia, particularly in the energy sector. Petronas’s involvement, leveraging its extensive expertise and technological prowess, is poised to play a pivotal role in advancing Turkmenistan’s hydrocarbon industry.
GLOBAL REACH: FROM DUBAI AND PARIS TO KUALA LUMPUR
Turkmenistan’s proactive approach to attracting foreign direct investment has been demonstrated through successful previous iterations of the TEIF in major international business hubs such as Dubai (TEIF 2023) and Paris (TEIF 2024), which garnered significant investor interest from the Middle East and Western Europe. With the Kuala Lumpur Forum, Turkmenistan is now strategically focusing on the rapidly growing economies of Southeast Asia, aiming to establish new partnerships and benefit on the region’s robust growth trajectory.
PETRONAS IN TURKMENISTAN: DECADES OF ENERGY PARTNERSHIP
Petronas has maintained a significant presence in Turkmenistan’s energy sector for over a quarter of a century. Since 1996, the company has focused primarily on hydrocarbon exploration and production within the Turkmen sector of the Caspian Sea, forging a partnership of strategic importance to the Central Asian nation.
During his official visit to Malaysia in December 2024, Esteemed President of Turkmenistan Serdar Berdimuhamedov met with Petronas’ senior management at the iconic Petronas skyscraper underscoring the deepening energy partnership between the two nations. This visit highlighted the “significant contribution” of Petronas to utilising Turkmenistan’s energy potential, acknowledging their nearly 30 years of active involvement in hydrocarbon production projects. The meeting focused on priority areas of cooperation in the oil and gas sector, as well as prospects for future collaboration, setting the stage for continued growth in this vital industry. The signing of the “Protocol on the Commercial Terms of the Production Sharing Agreement for the Development of the Toplum-I Contractual Territory in the Turkmen section of the Caspian Sea” further solidified this commitment.
Operating under a Production Sharing Agreement for Block 1, Petronas has been instrumental in developing key fields such as Makhtumkuli, Ovez, and Diyarbekir. Their involvement extends beyond exploration and production, encompassing contributions to Turkmenistan’s gas processing capabilities, including participation in facilities like the Kiyanly gas treatment plant. A notable achievement in 2023 saw Petronas establish oil production from the Garagol-Deniz field, further solidifying their commitment to the region.
Beyond direct operational involvement, Petronas has also played a role in developing Turkmenistan’s oil and gas infrastructure. Furthermore, the company has demonstrated a commitment to human capital development. Since 1998, Petronas has provided educational opportunities for Turkmen students at the Universiti Teknologi Petronas in Malaysia. This long-term collaboration underscores the strategic importance of the partnership, with Petronas contributing significantly to the growth and development of Turkmenistan’s energy industry. ///Turkmen Energy Forum, 24 February 2025