Petronas is the leading partner of the International Forum TEIF 2025
14:49 25.02.2025 4198
The next strategic step to expand the investment potential of our country will be the International Forum on Attracting Foreign Investments into the Economy of Turkmenistan (TEIF 2025), which will be held on April 23-24, 2025 in Kuala Lumpur, Malaysia.
The upcoming event, organized by the State Concerns "Turkmengas", "Turkmennebit" and the Chamber of Commerce and Industry of Turkmenistan with the support of the Business Society "Turkmen Energy Forum", will become an effective platform for discussing the prospects for investment in the energy sector, construction, transport and other strategic sectors of the economy of Turkmenistan.
As reported by the "Turkmen Energy Forum", the strategic importance of this forum is emphasized by the participation of the Malaysian company Petronas as the leading partner of the planned event. This cooperation testifies to the deepening of ties between Turkmenistan and Malaysia in the energy sector. Petronas has maintained a significant presence in Turkmenistan’s energy sector for over a quarter of a century. Since 1996, the company has focused on hydrocarbon exploration and production in the Turkmen sector of the Caspian Sea, building partnerships of strategic importance.
During an official visit to Malaysia in December 2024, Turkmen President Serdar Berdimuhamedov held meetings with Petronas’ senior management at the iconic Petronas Tower, highlighting the deepening energy partnership between the two countries. The visit highlighted Petronas’ significant contribution to tapping Turkmenistan’s energy potential, noting their long-standing active involvement in hydrocarbon production projects in our country.
Priority areas of cooperation in the oil and gas sector were also discussed, laying the foundation for further growth in this sector. Working under the Block 1 Production Sharing Agreement, Petronas has played a major role in the development of the Magtymguly, Ovez and Diyarbakir fields.
In addition to exploration and production, the Malaysian company makes a significant contribution to the development of gas processing capacities in Turkmenistan. In particular, Petronas took part in the construction of a gas treatment facility in Kiyanly. A notable achievement of the company was the start of oil production at the Garagol-Deniz field in 2023, which strengthened the commitment to deepening cooperation.
Petronas is also actively involved in human capital development. Since 1998, the company has provided educational opportunities for Turkmen students at the Petronas Technological University in Malaysia. This long-term cooperation underlines the strategic importance of the partnership, as Petronas makes a significant contribution to the growth and development of the energy sector in Turkmenistan.
Significantly, Turkmenistan's proactive approach to attracting foreign direct investment was demonstrated during previous successful TEIF projects held in major international business hubs in Dubai (TEIF 2023) and Paris (TEIF 2024), which attracted significant interest from investors from the Middle East and Western Europe. The holding of the forum in Kuala Lumpur shows that Turkmenistan is now paying strategic attention to the fast-growing economies of Southeast Asia and is seeking to establish new partnerships in the region.
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