The President of Turkmenistan has signed a Resolution authorizing the State Concern Türkmennebit to conclude an agreement on the development of licensed blocks in the Turkmen sector of the Caspian Sea. This was reported by the online news outlet AsmanNews.
The agreement will be signed between the State Concern Türkmennebit, the Malaysian company Petronas Carigali (Turkmenistan) Sdn. Bhd., and Hazarnebit, a state enterprise operating under the Concern.
The document was adopted to ensure the efficient development of the licensed blocks and to implement the objectives set for the oil and gas industry, in accordance with the Law of Turkmenistan “On Hydrocarbon Resources”.