Turkmenistan's President Serdar Berdimuhamedov has signed a decree authorizing state concerns "Turkmengaz" and "Turkmennebit" to enter into agreements with "Petronas Carigali (Turkmenistan) Sdn Bhd." (Malaysia) and "ADNOC Turkmenistan RSC Limited" (UAE). The document aims to successfully implement the tasks set for the country's oil and gas industry, reports TDH.

The signed agreements relate to a new production sharing agreement for the gas condensate fields of Block No. 1 on the Turkmen shelf of the Caspian Sea. The documents provide for the development and exploitation of new oil and gas fields in the Turkmen sector of the Caspian.

The contracts also include provisions for the purchase and sale of natural gas and regulate the procedure for developing additional oil fields in the Turkmen sector of the Caspian Sea.