Turkmenistan and Malaysia are looking to expand cooperation in the oil and gas sector, with a growing focus not only on hydrocarbon production but also on oil and gas services, equipment supplies, engineering solutions and digitalisation. These areas were at the centre of the roundtable “Turkmenistan–Malaysia: Energy Partnership in Oil and Gas Services and Equipment”, held on the sidelines of the 31st International Conference and Exhibition “Oil and Gas of Turkmenistan – 2026” (OGT 2026) in Ashgabat.
Participants included Mammetguly Astanagulov, Minister of Finance and Economy of Turkmenistan; Akmal Nasrullah bin Mohd Nasir, Malaysia’s Minister of Economy; Mohd Suhaimi bin Ahmad Tajuddin, Ambassador of Malaysia to Turkmenistan; Maksat Babayev, State Minister and Chairman of the State Concern Turkmengas; Vekilmuhammet Ussaev, Deputy Chairman of the State Concern Turkmennebit; and Mohd Yazid Jaafar, President and Chief Executive Officer of the Malaysian Petroleum Resources Corporation (MPRC). The Malaysian delegation included 20 oil and gas companies.
Turkmenistan Seeks New Investment and Technological Solutions
Mammetguly Astanagulov, Minister of Finance and Economy of Turkmenistan, said relations between the two countries were based on mutual respect, equality, friendship and mutually beneficial partnership. The oil and gas sector, including hydrocarbon production and specialist training, plays a particularly important role in bilateral cooperation.
Energy remains a cornerstone of Turkmenistan’s national economy, he said, while maintaining energy security is one of the country’s priorities. Astanagulov identified oil and gas, petrochemicals, gas chemicals and the wider energy sector as key areas for investment.
Turkmenistan continues to implement projects to develop its hydrocarbon resources and new fields. Current priorities include construction of the Turkmenistan–Afghanistan–Pakistan–India (TAPI) gas pipeline along the Serhetabat–Herat section, the development of new facilities at the Turkmenbashi Complex of Oil Refineries, modernisation of the Seidi Refinery and the phased development of the Galkynysh gas field.
Particular attention is also being paid to expanding petrochemical and gas-chemical production, increasing mineral fertiliser output and establishing new production chains, including through joint ventures.
Another promising area, Astanagulov said, is the introduction of smart energy systems, digital monitoring of production processes and automated resource management.
He also stressed that Turkmenistan was creating favorable conditions for domestic and foreign investors, supported by a legal and regulatory framework designed to protect their activities.
According to figures presented by the minister, trade turnover between Turkmenistan and Malaysia reached US$25.4 million in 2025, a 1.4-fold increase from the previous year. Exports of chemical, petrochemical, gas-related and other industrial products are also growing.
Turkmenistan’s Economic Performance and Investment Priorities
Presenting the country’s economic performance, Mammetguly Astanagulov said Turkmenistan’s gross domestic product had increased 1.5-fold over the past five years, reaching US$77.4 billion in 2025. Economic growth remained steady at 6.3%.
He said the country’s macroeconomic policies were helping maintain stability and curb inflation, which stood at 3.6% in the first half of 2026.
Investment in the economy exceeded US$12.8 billion in 2025, while exports totalled US$11.2 billion. Foreign trade turnover increased by nearly 11% compared with 2024. The minister also noted that exports and imports had continued to grow in 2026.
On public debt, Astanagulov said Turkmenistan had no domestic public debt, while external debt stood at 3% of GDP at the end of 2025.
A key goal of the country’s economic reforms, he said, was to develop Turkmenistan into a major industrial and manufacturing hub. This would require investment in fixed assets, infrastructure modernisation and the creation of new production facilities.
Astanagulov identified oil and gas, petrochemicals, gas chemicals and energy as priority sectors for foreign investment. Development in these areas would involve not only resource extraction but also new production facilities, expanded hydrocarbon processing and the establishment of joint ventures.
He reaffirmed Turkmenistan’s readiness to strengthen practical cooperation with foreign partners and create the necessary conditions for investment, including a sound legal and regulatory framework and a favorable fiscal regime.
Malaysia Seeks to Expand Cooperation Beyond Hydrocarbon Production
Malaysia’s Minister of Economy, Akmal Nasrullah bin Mohd Nasir, expressed interest in expanding cooperation between Malaysian oil and gas services and equipment (OGSE) companies and Turkmen enterprises.
He said the engagement built with Prime Minister Anwar Ibrahim’s official visit in June, together with President Berdimuhamedov, had led both countries to agree to strengthen cooperation. During that same month in June, the sides also signed a framework agreement for long-term cooperation in the development of Turkmenistan’s hydrocarbon resources.
Another step was the yesterday’s signing of a memorandum of understanding between the Malaysia Oil and Gas Services Council (MOGSC) and the State Concern Turkmengas to facilitate cooperation in oil and gas services and equipment in Turkmenistan.
“We believe that the partnership is supposed not just to focus on the production of our hydrocarbon, but also to develop the local capabilities as well as to create business opportunities for the locals,” the Malaysian minister said.
He said Malaysian companies could offer equipment, engineering and specialized services that support safe and reliable operations. Some already have experience in Turkmenistan, while the rest have spent 15 to 30 years serving Petronas and other countries.
Nasir also highlighted technical training, knowledge-sharing and local servicing arrangements as potential areas of cooperation. Malaysian companies are keen to work with Turkmengaz, Turkmennebit, local partners and international operators in Turkmenistan, as well as to support Petronas’ operations in the country.
He said “this collaboration will further develop both skills of Turkmenistan and Malaysia, and continue to support our industry of equipment and services for oil and gas.”
Petronas: A Cornerstone of Long-Term Energy Cooperation
Maksat Babayev, State Minister and Chairman of the State Concern Turkmengas, said energy remained the main pillar of relations between Turkmenistan and Malaysia.
Malaysia’s Petronas has a central role in this partnership. The company has operated in Turkmenistan’s sector of the Caspian Sea since 1996 under a production-sharing agreement for Block I.
According to Babayev, Petronas has invested approximately US$12 billion in Turkmenistan’s economy over the course of its operations. The company marks 30 years in the country in 2026, while the term of its production-sharing agreement was extended by 25 years in 2025.
Babayev also highlighted Petronas’ contribution to developing local talent. More than 1,000 Turkmen citizens work for Petronas Carigali Turkmenistan, accounting for around 90% of the company’s workforce in the country. More than 200 technical specialists have received training, while 188 Turkmen students have been awarded scholarships to study at Petronas universities and training facilities in Malaysia.
“We consider workforce development just as important a part of the overall results as production volumes,” Babayev said.
He also outlined new agreements reached in June 2026. In addition to a framework agreement on long-term cooperation in developing Turkmenistan’s hydrocarbon resources, Petronas and the State Concern Turkmennebit signed a production-sharing agreement for Blocks 19 and 20, as well as an agreement on cooperation in technical matters relating to offshore blocks.
Babayev said further cooperation would require careful consideration of technical and commercial issues, with due regard for the interests of both parties.
Beyond production, he identified gas processing, gas chemicals, higher value-added products, engineering and integrated technical services as promising areas for cooperation.
Digital technologies, improved energy efficiency and methane emissions reduction are also important priorities. Malaysian companies’ experience in these fields could be valuable in the implementation of projects in Turkmenistan.
Turkmennebit and MPRC Agree to Cooperate on Oil and Gas Services
Vekilmuhammet Ussaev, Deputy Chairman of the State Concern Turkmennebit, said decades of cooperation between Turkmenistan and Malaysia were entering a new phase, moving from joint efforts in hydrocarbon development towards deeper technological integration.
As a concrete step in this direction, he highlighted the memorandum of understanding signed on 22 October 2026 between Turkmennebit and the Malaysian Petroleum Resources Corporation (MPRC).
The memorandum provides for cooperation in oil and gas services, as well as the supply and maintenance of equipment for enterprises in Turkmenistan’s fuel and energy sector.
Ussaev said the agreement opened a new chapter in the partnership, focused on expanding service capabilities and developing high-tech production. He also expressed confidence that the two countries’ longstanding cooperation in the oil and gas sector could provide a foundation for broader engagement between Central Asia and Southeast Asia.
Malaysia Ready to Share Expertise in Digitalisation and Methane Emissions Reduction
Mohd Yazid Jaafar, President and CEO of the Malaysian Petroleum Resources Corporation (MPRC), said Malaysia’s oil and gas services and equipment (OGSE) industry had decades of experience that could be valuable to Turkmenistan.
The industry has been around for almost 60 years and started in 1974, providing almost 52 years of services in meeting the requirements of the oil and gas industry in Malaysia, which can replicate the success in Turkmenistan.
The supply chain or OGSE industry in Malaysia is a big business with around 1,800 companies, of which 20 companies are represented at the roundtable in Ashgabat.
Jaafar said cooperation with Turkmenistan was envisaged as a long-term partnership, in making sure that the development continues not overnight or a week, but sustainably for the next 25–30 years.
He identified methane reduction, AI, digitalization and energy efficiencies as areas where Malaysian OGSE companies have the abilities and are in a position to work together with Turkmenistan enterprises and partners to make sure these objectives are achieved.
He also highlighted the importance of training, making sure Turkmen enterprises and Turkmen citizens grow along this journey, to grow together as an integral part of the partnership.
“We want to build together, obviously, for mutual benefit of both Turkmenistan and Malaysia in the long-term,” the MPRC chief said.
He added that MPRC, as the agency of the Ministry of Economy, was more than happy to link some of the companies with Turkmenistan partners in addressing needs and requirements, including those not available within this room.
From Business Contacts to Practical Projects
In his closing remarks, Maksat Babayev highlighted the broad range of services offered by Malaysian companies, from engineering and engineering, procurement and construction (EPC) contracts to logistics, repairs and maintenance during scheduled facility shutdowns.
He advised companies visiting Turkmenistan for the first time to submit official information about their activities to the State Concern Turkmengas.
“Turkmengas is developing its vendor list, covering companies that provide services or supply equipment. I think it would be useful for companies visiting Turkmenistan for the first time to write to our concern and introduce themselves officially, attaching a link to their website or providing information about their company, services and areas of activity,” Babayev explained.
He said Turkmengas would review the submitted materials and invite relevant companies to participate when suitable tenders were announced.
Which Companies Presented Their activities at the Roundtable?
MPRC (Malaysia Petroleum Resources Corporation) – An agency of the Ministry of Economy of Malaysia established in 2011 to advance Malaysia’s Oil and Gas Services and Equipment (OGSE) industry, facilitate international growth, and provide policy advice across the energy sector, focusing on sector development, international market access, policy and industry intelligence, and sustainability and energy transition.
Lianson Fleet Group Berhad – A leading marine logistics and offshore support services provider offering offshore support vessel (OSV) operations, vessel chartering, ship management, marine transportation, offshore logistics solutions, well services, anchor handling, towing operations, and dry bulk transportation.
Turkmenistan Connection / Interest: Interested in offshore support services, well services, well intervention, well stimulation, and offshore support vessels, looking to partner with Turkmennebit, Turkmengaz, PETRONAS Turkmenistan, and Dragon Oil.
Bumi Wangsa TMS Sdn Bhd – Specializes in maintenance, repair, and overhaul (MRO), engineered solutions, instrument control and automation, and technology.
Turkmenistan Connection / Interest: Interested in wellhead control panels, hydraulic power units, smart monitoring systems (BW Connect), pump monitoring systems (BW Pulse), and vessel fuel monitoring systems (BC Track), targeting Turkmennebit, Turkmengaz, PETRONAS Turkmenistan, and Dragon Oil.
Emerging EPC Sdn Bhd – Provides equipment supply and integration for customized instrument air and gas compressor packages, maintenance, repair, overhaul (MRO), equipment rentals, spare parts, upgrades, and technical support.
Turkmenistan Connection / Interest: Interested in MRO and refurbishment, brownfield upgrades and asset life extension, and equipment rental solutions (such as Zone 2-rated air compressors and dryers), looking to work with Turkmennebit, Turkmengaz, PETRONAS Turkmenistan, and Dragon Oil.
Haluan Cekap Sdn Bhd – Focuses on MRO for turbomachinery and rotating equipment, pipe pre-commissioning, in-line inspection and integrity services, and offshore/onshore facilities decommissioning.
Turkmenistan Connection / Interest: Interested in gas turbine, compressor and rotating equipment maintenance, pipeline pre-commissioning and integrity management, brownfield upgrading, and joint service delivery with local Turkmen partners like Turkmengaz and Turkmennebit.
Swift Energy Sdn Bhd – Specializes in complete power distribution and automation for offshore and onshore applications, including off-grid solar/wind-diesel hybrid power systems and explosion-proof electrical systems.
Turkmenistan Connection / Interest: Already has experience in Turkmenistan providing solar power systems for the Dragon Oil/ILK LAM 28 water injection platform. Looking to source a reseller or business partner with sound electrical product knowledge and industry networks.
Tuah Consult Sdn Bhd – Provides engineering services and project management for oil, gas, petrochemical, and energy sectors, ranging from conceptual and feasibility studies to FEED and detailed engineering design.
Turkmenistan Connection / Interest: Interested in long-term cooperation with local companies and government agencies like Turkmengaz, Turkmennebit, and the TAPI Pipeline Company Limited for upstream, processing, and pipeline engineering consultancy.
HELMS Geomarine Sdn Bhd – Provides offshore soil investigation (geotechnical survey), marine site survey (geophysical survey), and offshore positioning services (rig move).
Turkmenistan Connection / Interest: Active in the Caspian Sea region (Turkmenistan). Interested in offshore geotechnical and geophysical surveys and rig moves, with preferred local partners Gujurly Inžener (GI) and Mawy Deniz Gurlushyk (MDG).
AsiaPac Oil & Gas Sdn Bhd – A specialized oilfield services provider offering comprehensive well intervention solutions, including fishing and recovery, plug & abandonment (P&A), sidetracking, section milling, washovers, and wireline recovery.
Turkmenistan Connection / Interest: Looking to explore business opportunities with national oil companies and international operators, and establish strategic partnerships with capable local Turkmen oilfield service providers.
Corroserv (M) Sdn Bhd – Specializes in engineered composite repair, corrosion protection, protective coatings, cold bonding, structural rehabilitation, and digital repair tracking.
Turkmenistan Connection / Interest: Interested in pipeline, offshore, and gas-processing asset life extension, composite repair, technology transfer, and workforce training, looking to partner with Turkmengaz, Turkmennebit, and PETRONAS Carigali Turkmenistan.
UZMA Group – Provides integrated solutions focusing on subsurface analysis, reservoir management, well optimization, and production enhancement.
Turkmenistan Connection / Interest: Interested in the oil and gas sector focusing on subsurface studies, reservoir management, well integrity, and production optimization, targeting partners like PETRONAS Carigali, Turkmennebit, Turkmengaz, Dragon Oil, and Eni Turkmenistan.
EXS Synergy Sdn Bhd – Offers explosion protection (Ex) inspection, maintenance, rectification, compliance services, and digital transformation solutions for industrial asset integrity.
Turkmenistan Connection / Interest: Interested in Ex management services and supporting digitalization initiatives for asset integrity and operational safety, aiming to partner with state-owned operators like Turkmennebit and Turkmengaz, as well as EPC contractors.
Wehaya Sdn Bhd – Specializes in mechanical, electrical, and instrumentation (ME&I), flow metering, mechanical valves, facilities management, civil engineering, and technical training and workforce development.
Turkmenistan Connection / Interest: Interested in specialized training (instrumentation, hazardous-area competency), technical manpower supply, and valve maintenance, seeking partnerships with Turkmennebit, Turkmengaz, and local OGSE companies.
Neopetro Sdn Bhd – Owns and operates offshore support vessels and provides marine spread coordination for offshore construction, transportation and installation (T&I), FSO mobilization, and nearshore pipeline installation.
Turkmenistan Connection / Interest: Exploring offshore and onshore project collaboration in Turkmenistan focusing on T&I, FSO mobilization, and pipeline installation, with preferred counterparts including Dragon Oil, PETRONAS Carigali, Türkmennebit, and Hazarnebit.
Essem Group Sdn Bhd – Provides wellhead & well intervention services, valve automation & instrumentation, pipeline integrity & safety solutions, API 6D valve manufacturing, power generation, and UAV aerial inspection.
Turkmenistan Connection / Interest: Already active in Turkmenistan since 2006 (formally entering as an independent contractor in 2016) with wellhead maintenance and exploration projects alongside local partner Garagum Hazynasy IE. Interested in expanding its footprint in pipeline integrity, valve automation, gas-to-LNG capabilities, power generation, and UAV inspection with Turkmengaz, Turkmenneft, Dragon Oil, CNPC, and Petronas.
Daya Singa Sdn Bhd – Provides firefighting, lifesaving, emergency and evacuation equipment solutions, mechanical static engineered solutions, specialized gas calibration standards, and essential skills training.
Turkmenistan Connection / Interest: Looking to bring specialized safety expertise and solutions to Turkmenistan through local SME or mid-tier partners who have relationships with majors like Petronas Turkmenistan, Dragon Oil, Turkmengaz, and Turkmennebit.
Centus Marine Sdn Bhd – Operates fast crew boats (FCB), general purpose/utility vessels, safety standby vessels, and handles vessel technical and crew management.
Turkmenistan Connection / Interest: Interested in vessel chartering and management, local workforce capability development, and joint bidding/long-term cooperation with maritime authorities, local marine logistics companies, Dragon Oil, and PETRONAS Carigali.
Enproserve Group Berhad – Specializes in Engineering, Procurement, Construction and Commissioning (EPCC), plant shutdowns, turnarounds, and plant maintenance for pressure vessels, heat exchangers, and pipelines.
Turkmenistan Connection / Interest: Intends to pursue EPCC, shutdown/turnaround, and plant maintenance opportunities in Turkmenistan’s oil, gas, and petrochemical sectors in partnership with a reliable local collaborator.
Malaysia Marine and Heavy Engineering Holdings Berhad (MHB) – Provides offshore EPCIC solutions, fabrication of offshore and onshore facilities, and asset integrity solutions using Malaysia’s largest fabrication yard.
Turkmenistan Connection / Interest: Has a proven Turkmenistan track record (2007–2011) operating the Kiyanly Yard and delivering key Block 1 infrastructure for PETRONAS Carigali Turkmenistan (including the Gravity Base Structure, Magtymguly Drilling Platform-A, and Collector Riser Platform). Looking to explore new EPC and EPCIC opportunities for offshore/onshore energy infrastructure projects.
Yinson Energy Sdn Bhd – Global energy infrastructure company specializing in Floating Production, Storage and Offloading (FPSO/FSO) vessels, Floating Liquefied Natural Gas (FLNG) solutions, onshore renewable energy (solar/wind), and green technologies (EV charging and electric vessels).
Turkmenistan Connection / Interest: Interested in floating offshore storage and processing terminals, FLNG, marine asset operations and maintenance, onshore renewables, and green technology, targeting Petronas Turkmenistan, Turkmennebit, Dragon Oil, and Turkmengaz. ///nCa, 23 October 2026