PETRONAS, XRG, Hazarnebit and Turkmennebit Partner On Strategic Gas Asset In Turkmenistan

ASHGABAT, May 15 (Bernama) -- PETRONAS, XRG, State Enterprise Hazarnebit, and State Concern Turkmennebit have signed a new Production Sharing Contract (PSC) for the Block I gas and condensate fields in Turkmenistan. As part of the transaction, a long-term Gas Sales Agreement (GSA) was also signed with State Concern Turkmengas.
Under the terms of the PSC, PETRONAS will hold 57% participating interest as the operator, partnering with XRG (38%), with State Enterprise Hazarnebit holding the remaining 5%.

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