At a workshop of the Turkmenistan Investment Forum (TIF 2026) focused on ensuring energy sustainability and developing the chemical, oil and gas industries, the Deputy Chairman of the Türkmennebit State Concern Batyr Jumayev revealed in detail the investment potential of developing hydrocarbon resources in the Turkmen sector of the Caspian Sea, Orient reports.
The head of the State Concern emphasized that the country’s offshore shelf is divided into more than 30 license blocks open to foreign capital as part of the implementation of the National Conception of the Development of the Oil and Gas Industry.
The Law of Turkmenistan “On Hydrocarbon Resources,” which guarantees a preferential fiscal regime, serves as the foundation for legal protection and financial attractiveness for investors. Foreign partners are offered transparent operating mechanisms: the country employs a simplified taxation system requiring payment only of corporate income tax and specific fees for subsoil use rights, while granting full exemption from other levies, customs duties and exchange registration fees for equipment import contracts.
Our legislation also enshrines the right of investors to freely dispose of their share of extracted hydrocarbons and to process them at domestic refineries without additional licensing. Furthermore, submitting an official application to the Türkmennebit State Concern paves the way for direct, non-exclusive negotiations that can lead to the signing of Production Sharing Agreements (PSAs), concessions, risk-service contracts, or joint venture agreements.
As noted, international giants such as Dragon Oil, PETRONAS and ADNOC are currently operating successfully on Turkmenistan’s Caspian shelf under PSAs.
A prime example of the expanding strategic partnership was the signing in June 2026 of a Production Sharing Agreement for the Block 19 and Block 20 contract areas between the Türkmennebit State Concern, PETRONAS Carigali (Turkmenistan) Sdn. Bhd. and the Hazarnebit State Enterprise. Alongside the launch of 2D seismic surveys on licensed Blocks 11, 12, 13 and 14, this deal ushered in a new phase in boosting offshore exploration capacity and reaffirmed the high effectiveness of our state’s open-doors policy.
