SOCAR Trading will purchase oil produced in Turkmenistan by Petronas

11:28 06.01.2021 2011

Over the next two years, SOCAR Trading (Azerbaijan) will purchase two million tons of oil from the Malaysian company Petronas, operating in Turkmenistan on the terms of a Production Sharing Agreement.

Azerbaijani company won the Petronas tender for the purchase of crude oil produced in the Kiyanly oil fields. The agreement was concluded for a two-year period and is available for prolongation for a further period, Trend agency reports.

 Earlier, SOCAR Trading also became the winner of the tender of the Eni Turkmenistan company for the purchase of 500 thousand tons of crude oil, which will be produced at the Okarem field in 2021.

 The purchased volumes of Turkmen oil are planned to be further directed through the Baku-Tbilisi-Ceyhan oil pipeline, which, according to experts, will entail an increase in the volume of transported raw materials along this oil route.

Other articles
The results of the development of the fuel and energy complex for January-July of this year were discussed at a government meeting

Last Friday, President Gurbanguly Berdimuhamedov held a meeting of the Cabinet of Ministers via digital video communication, at which the results of the development for seven months of the year of all sectors of the national economy, including the fuel and energy complex of Turkmenistan, were discussed.

The head of Turkmenistan stated priorities of cooperation within the CIS

Changing world realities demand from the CIS a timely and adequate response, embedding in new coordinates of interaction. It was stated by the President Gurbanguly Berdimuhamedov in an interview to the International Television and Radio Company «Mir», answering a question about the prospects for Turkmenistan's cooperation within the Commonwealth.

Gasoline produced by TCOR is among the export transactions on the exchange of Turkmenistan

12 transactions were registered at the State Commodity and Raw Materials Exchange of Turkmenistan last week.

The industry meeting discussed the results of the fuel and energy complex for 7 months of 2020

Today, on August 17, in the Central building of the oil and gas complex of Turkmenistan, a reporting meeting was held under the chairmanship of Vice-Chairman of the Cabinet of Ministers Myratgeldi Meredov, at which the results of the work of industry enterprises for seven months of 2020, held under the motto "Turkmenistan - Homeland of Neutrality" were discussed.


The oil and gas industry is the leading sector of the national economy, that plays a significant role in the programs of the country's socio-economic development on an innovative basis, approved by President Gurbanguly Berdimuhamedov, and expanding its export opportunities.