XRG has expanded its international gas portfolio with a 38% interest in the offshore Block I gas and condensate fields in Turkmenistan, marking its entry into Central Asia through a new production sharing contract with PETRONAS and Turkmenistan’s state entities.
The agreement, signed with the State Concern Turkmennebit, also includes a long-term gas sales agreement with State Concern Turkmengas. PETRONAS will operate Block I with a 57% stake, while XRG and the Turkmenistan State Enterprise Hazarnebit hold 38% and 5%, respectively.
XRG expands footprint in Central Asia with a 38% interest in the offshore “Block I” gas and condensate fields in Turkmenistan.
Located in the Caspian Sea, Block I currently produces about 400 million cubic feet of natural gas per day and holds more than 7 trillion cubic feet of resources, with potential for further expansion.
“This agreement marks an important milestone in XRG’s global growth strategy and strengthens our presence in the Caspian region,” said Mohamed Al Aryani, president of international gas at XRG.
The deal aligns with XRG’s long-term strategy to grow a diversified energy portfolio focused on gas, chemicals, and low-carbon energy solutions.
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