At the first session of the Turkmenistan Investment Forum (TIF 2026), Batyr Jumayev, Deputy Chairman of the State Concern ‘Türkmennebit’, presented investment opportunities for the development of hydrocarbon resources in Turkmenistan’s sector of the Caspian Sea. This was reported by the news agency Orient.

According to him, the country’s offshore shelf is divided into more than 30 licence blocks, which are available to foreign investors under the national Concept for the Development of the Oil and Gas Industry.

The main legal instrument for investors is the Law of Turkmenistan ‘On Hydrocarbon Resources’. The document provides for a preferential fiscal regime. Foreign companies pay corporation tax and the prescribed fees for the use of mineral resources, whilst being exempt from a number of other charges, customs duties and the requirement to register contracts for the import of equipment with the stock exchange.

Investors may also freely dispose of their share of extracted hydrocarbons and process it at domestic refineries without the need for additional licences.

After submitting an application to the ‘Türkmennebit’ State Concern, an investor may commence direct, non-exclusive negotiations. These lead to the conclusion of Production Sharing Agreements (PSAs), concessions, service contracts with risk, or joint venture agreements.

Dragon Oil, PETRONAS and ADNOC are operating on Turkmenistan’s Caspian shelf under PSA arrangements.

In June 2026, the ‘Türkmennebit’ State Concern, ‘Petronas Çarigali (Turkmenistan) Sdn. Bhd.’ and the state-owned enterprise ‘Hazarnebit’ signed a Production Sharing Agreement covering the contract areas ‘Block 19’ and ‘Block 20’. In addition, 2D seismic surveys have commenced in licence blocks 11, 12, 13 and 14.