State Concern "Turkmengaz" has signed agreements with the Malaysian company Petronas and ADNOC (UAE) for the joint development of new hydrocarbon fields in the Turkmen sector of the Caspian Sea, the chairman of the state concern announced during a press conference.

According to him, the agreement envisages the exploration and development of new oil and gas fields in the Turkmen sector of the Caspian Sea, and also includes provisions for the purchase and sale of natural gas.

In addition, the state concern "Turkmennebit" also concluded an agreement with Petronas and ADNOC aimed at developing additional oil fields in the Turkmen sector of the Caspian Sea, the head of the concern told reporters.

The signed documents relate to a new production sharing contract for the gas condensate fields of Block No. 1 of the Turkmen shelf of the Caspian Sea, the press service of Petronas clarified.

During the press conference, it was noted that the agreements are the result of the development of cooperation between Turkmenistan and Malaysia and the UAE in the oil and gas sector.