Guvanch Agajanov, Chairman of the State Concern “Turkmennebit,” addressed the session “Commodities for the Energy Transition: New Horizons for Investments” at the International Conference OGT 2025, announcing Turkmenistan’s readiness to expand international partnership and attract investors for the development of the rich hydrocarbon resources of the Caspian shelf.
Emphasizing that Turkmenistan’s hydrocarbon reserves total more than 71 billion tons of oil equivalent, Agajanov named the development of licensed blocks in the Turkmen sector of the Caspian Sea as a key direction for investment.
Turkmenistan is Open to Global Investors
The Chairman of “Turkmennebit” recalled that in May 2025, a new Production Sharing Agreement (PSA) for Block 1 was signed between the SC “Turkmennebit,” Petronas Carigali, and ADNOC (XRG). This agreement marked a new stage in offshore cooperation and confirmed the country’s openness to global investors possessing advanced technologies.
“Today, Turkmenistan invites new partners to join the development of resources on the shelf,” Agajanov noted. Among the attractive conditions for foreign investors, the speaker highlighted:
- Updated geological and geophysical data on priority blocks.
- Transparent legislative and contractual framework.
- Simplified fiscal and customs terms for long-term investments.
Petrochemicals and Diversification
The head of “Turkmennebit” stressed that hydrocarbons and petrochemical raw materials play an absolutely indispensable role, ensuring industrial transformation and the introduction of greener technologies.
Turkmenistan is actively modernizing its oil refining and petrochemical industries, striving for diversification and the production of high-value-added products:
- The Turkmenbashi Complex of Oil Refineries has undergone large-scale modernization, allowing it to produce a wide range of fuels, lubricants, polypropylene, and bitumen for the domestic and export markets.
- Plans are underway for the construction of a new integrated petrochemical complex that will expand the production of polymers and chemical raw materials, which are a vital component in the global supply chain for clean energy.
“These projects reflect Turkmenistan’s commitment to the principles of sustainable industrial development and the reduction of carbon intensity at all stages of the production chain,” Agajanov emphasized.
Digitalization and AI
To enhance operational efficiency, “Turkmennebit” is actively integrating elements of digitalization and Artificial Intelligence (AI).
- AI is becoming a key tool for improving safety, reducing operating costs, and minimizing downtime.
- The implementation of intelligent wells, predictive analytics systems, and digital modeling multiply the efficiency of geological exploration, drilling, field development, and refining operations.
In line with its commitments under the Global Methane Pledge Initiative, the SC “Turkmennebit” is implementing practical measures for monitoring and reducing emissions, expanding the use of associated petroleum gas, and introducing digital technologies to enhance energy efficiency.
“The future of hydrocarbon energy must be not only productive but also responsible, ensuring cleaner, smarter, and more sustainable production,” concluded the Chairman of the Concern, affirming that Turkmenistan is open to cooperation with international investors, technology companies, and financial institutions in the fields of offshore projects, petrochemicals, and clean energy. ///nCa, 22 October 2025