Cooperation in the oil and gas sector is a key factor in long-term economic and investment cooperation between Turkmenistan and Malaysia, stated President Serdar Berdimuhamedov, speaking at the international scientific and practical conference "Turkmenistan – Malaysia: 30 Years of Mutually Beneficial Cooperation in the Oil and Gas Sector," held on June 19 at the Chamber of Commerce and Industry of Turkmenistan, TDH reports.

As the head of state noted, this year marks the 30th anniversary of the partnership between Turkmenistan and Malaysia in the oil and gas sector. The Malaysian company Petronas plays a significant role in this: over the years of its operations in our country, the company has invested approximately $12 billion in Turkmenistan's oil and gas industry.

Currently, Petronas enjoys high prestige and respect among its Turkmen partners, operating efficiently and smoothly. It makes a significant contribution to the development of the national economy and the modernization of our country's fuel and energy sector, President Serdar Berdimuhamedov continued.

The head of state expressed gratitude to the company's management and employees working in Turkmenistan for their professionalism and diligence in implementing joint projects and programs.

As noted, a tremendous amount of work has been accomplished over the past period, and a solid legal framework for cooperation has been established. Steady growth in production volumes has been achieved at Turkmenistan's oil and gas fields: five offshore platforms have been built and approximately 40 exploration, appraisal, and production wells have been drilled.

As a result of this extensive work, significant hydrocarbon reserves have been discovered to date. Development of fields such as Magtymguly, Diyarbakir, and Garagol Deniz is currently ongoing. Commercial development of the Ovez and Mashrykov fields is also planned for the near future.

One of the most significant achievements of PETRONAS and its Turkmen partners during their years of joint operations in the Caspian Sea has been the production of over 44 billion cubic meters of gas and 16 million tons of liquid hydrocarbons. Thanks to close cooperation with their Malaysian partners, a gas treatment plant, an onshore gas terminal, and an offshore structure assembly facility have been built on the Turkmen coast of the Caspian Sea.

Malaysian Prime Minister Anwar Ibrahim also participated in the conference. He emphasized that Turkmenistan's strategic partnership with Petronas, which began in 1996, has now reached a high level thanks to the personal support and special attention of President Serdar Berdimuhamedov.

Anwar Ibrahim also noted that over the past thirty years, Petronas has made a significant contribution to the development of Turkmenistan's infrastructure, including the modernization of the oil and gas industry. This success rests on a fundamental foundation: the training of highly qualified specialists. The exchange of experience and personnel training are of paramount importance for both countries. Today, Turkmenistan and Petronas are demonstrating to the world an excellent example of a reliable and long-term partnership.