XRG, a company established by ADNOC, is expanding its presence in Turkmenistan’s energy sector. In May 2025, it acquired a 38 per cent stake in Offshore Block I in the Turkmen sector of the Caspian Sea, becoming a partner of PETRONAS and the state-owned enterprise ‘Hazarnebit’ under a production-sharing agreement with the State Concern ‘Türkmennebit’, according to the news agency ‘Turkmenistan: Golden age’.

PETRONAS holds a 57 per cent stake and acts as the project operator, whilst XRG holds 38 per cent and ‘Hazarnebit’ 5 per cent. Block I’s resource base is estimated at over 7 trillion cubic feet of natural gas. XRG and PETRONAS have also entered into a long-term gas sales agreement with the State Concern ‘Türkmengaz’.

XRG was established by ADNOC in November 2024 as an international energy investment company. Its activities include gas projects, LNG, the chemical industry, infrastructure and energy solutions. The company is building an international portfolio of assets, including in the US, Egypt, Mozambique, Azerbaijan, Turkmenistan and Latin American countries.

In September 2025, XRG opened an office in Ashgabat. It has become a platform for engagement with government bodies, partners and market participants.

XRG’s participation as a Diamond Partner in the 31st International Conference and Exhibition ‘Oil and Gas of Turkmenistan – 2026’ (OGT 2026) reflects the development of the company’s cooperation with Turkmenistan. The forum will take place in Ashgabat from 21 to 23 October 2026.

For XRG, participation in Block I has laid the foundations for a long-term presence in the Turkmen market. The company is also exploring areas related to the development of offshore fields, refining, export infrastructure, methane emission reduction, digitalisation and the introduction of new technologies.