Azmin said this was decided during a bilateral meeting between Prime Minister Mahathir Mohamad and Turkmenistan President Gurbanguly Berdimuhamedov on October 27.
“Petronas has been offered the opportunity to play an active role in Turkmenistan’s oil and gas industry by focusing on developing downstream activities, such as the petrochemicals industry,” said Azmin via a Twitter posting.
Azmin, who is accompanying the prime minister on his official visit to Turkmenistan, said Berdimuhamedov also recognised the pivotal contribution by Mahathir developing bilateral relations between the two nations since Turkmenistan’s independence in 1991.
Mahathir made his 1st official visit to Turkmenistan in 1994. In 1996, Petronas obtained a 32-year Production Sharing Contract (PSC) licence for exploration and production of oil and gas in the Block-1 offshore area in the Caspian Sea.
“Both leaders also agreed to explore new opportunities in the areas of education, ship building, digital economy, high technology... We are committed to digitalisation and ready to collaborate with Turkmenistan on that front,” he said.