A framework agreement on long-term cooperation for the development of hydrocarbon resources of Turkmenistan was formalized between the governments of Malaysia and Turkmenistan.
PETRONAS Carigali (Turkmenistan) has signed a production sharing agreement (PSA) for offshore Block 19 and Block 20 in the Turkmenistan sector of the Caspian Sea, and a cooperation cgreement for 2D seismic studies for the Northern Offshore Blocks.
The company will acquire a 100% share in blocks 19 and 20, gaining access to new exploration acreage. Under the cooperation cgreement, new seismic data will be acquired to address existing data gaps and promote a more comprehensive assessment of the potential of the Northern Offshore Blocks, the company said.
In parallel, government officials from Turkmenistan and Malaysia signed a framework agreement for a long-term cooperation on hydrocarbons development in Turkmenistan.
The agreement could be expanded to a potential development of the Galkynysh Field.
Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.
