<h1>Block 1 Oil and Gas Project,Turkmenistan</h1>
<p>The Block 1 Oil and Gas Project is an offshore conventional oil and gas development in the Turkmen sector of the Caspian Sea. It is operated by Petronas Carigali and is one of the longest-running international upstream projects in Turkmenistan. Ownership is held by Petronas Carigali Sdn Bhd (57%),XRG PJSC (38%),and Khazarnebit NGDU (5%). Parent companies include Petroliam Nasional Bhd (57%),Abu Dhabi National Oil Company through XRG (38%),and Khazarnebit NGDU (5%). The project is operating and produces gas and condensate from Block 1. As of 2025,production is approximately 400 million cubic feet of natural gas per day,with access to more than 7 trillion cubic feet of natural gas resources.</p>
<h2>Quick Facts</h2>
<table><colgroup><col/><col/></colgroup>
<tbody>
<tr><th>Item</th><th>Details</th></tr>
<tr><td>Project Name</td><td>Block 1 Oil and Gas Project</td></tr>
<tr><td>Country</td><td>Turkmenistan</td></tr>
<tr><td>Fuel Type</td><td>Oil and gas</td></tr>
<tr><td>Production Type</td><td>Conventional</td></tr>
<tr><td>Status</td><td>Operating</td></tr>
<tr><td>Operator</td><td>Petronas Carigali</td></tr>
<tr><td>Owner(s)</td><td>Petronas Carigali Sdn Bhd (57%); XRG PJSC (38%); Khazarnebit NGDU (5%)</td></tr>
<tr><td>Parent Company</td><td>Petroliam Nasional Bhd (57%); Abu Dhabi National Oil Company (via XRG,38%); Khazarnebit NGDU (5%)</td></tr>
<tr><td>Onshore/Offshore</td><td>Offshore</td></tr>
<tr><td>Block(s)</td><td>Block 1</td></tr>
</tbody>
</table>
<h2>Ownership and Operatorship</h2>
<p>The project is operated by Petronas Carigali. Petronas Carigali Sdn Bhd holds 57% interest,XRG PJSC holds 38%,and Khazarnebit NGDU holds 5%. XRG is ADNOC's international investment company. Khazarnebit represents Turkmen state participation. The consortium has a long-term gas sales agreement with Turkmengas and a production sharing contract with Turkmennebit.</p>
<h2>Development History</h2>
<p>PETRONAS has been developing Block 1 under a production sharing agreement since 1996. In May 2025,PETRONAS,XRG,Hazarnebit,and Turkmennebit announced a strategic gas asset partnership. PETRONAS retained operatorship and a 57% interest,while XRG acquired 38% and Hazarnebit held 5%. The consortium also signed a long-term gas sales agreement with Turkmengas and a production sharing contract with Turkmennebit.</p>
<h2>Production and Reserves</h2>
<p>As of 2025,the Block 1 concession produces approximately 400 million cubic feet of natural gas per day. PETRONAS has reported access to more than 7 trillion cubic feet of natural gas resources. Historic peak production has been reported at 25.94 thousand barrels per day of crude oil and condensate and 494 million cubic feet per day of natural gas.</p>
<h2>Recent Developments</h2>
<p>In October 2025,PETRONAS Carigali announced plans to monetize hydrocarbons in Block 1 and pursue further development of gas resources in the Turkmen Caspian sector.</p>
<h2>Sources</h2>
<ul>
<li><a href="https://www.gem.wiki/Block_1_Oil_and_Gas_Project_%28Turkmenistan%29" rel="nofollow noopener" target="_blank">Global Energy Monitor,Block 1 Oil and Gas Project (Turkmenistan)</a></li>
<li><a href="https://www.petronas.com/media/media-releases/petronas-xrg-hazarnebit-and-turkmennebit-partner-strategic-gas-asset" rel="nofollow noopener" target="_blank">PETRONAS,PETRONAS,XRG,Hazarnebit and Turkmennebit Partner in Strategic Gas Asset</a></li>
<li><a href="https://www.reuters.com/business/energy/adnocs-xrg-takes-stake-turkmenistan-gas-block-2025-05-14/" rel="nofollow noopener" target="_blank">Reuters,ADNOC’s XRG Takes Stake in Turkmenistan Gas Block</a></li>
<li><a href="https://xrg.com/en/news/XRG-Expands-Gas-Portfolio-through-Strategic-Partnership-with-PETRONAS-in-Turkmenistan" rel="nofollow noopener" target="_blank">XRG,XRG Expands Gas Portfolio Through Strategic Partnership with PETRONAS in Turkmenistan</a></li>
<li><a href="https://www.offshore-energy.biz/adnocs-xrg-farms-into-petronas-operated-caspian-sea-block/" rel="nofollow noopener" target="_blank">Offshore Energy,ADNOC’s XRG Farms Into PETRONAS-Operated Caspian Sea Block</a></li>
<li><a href="https://www.upstreamonline.com/field-development/adnocs-xrg-acquires-major-stake-in-turkmenistan-gas-project-from-petronas/2-1-1819691" rel="nofollow noopener" target="_blank">Upstream,ADNOC’s XRG Acquires Major Stake in Turkmenistan Gas Project from PETRONAS</a></li>
<li><a href="https://theedgemalaysia.com/node/755226" rel="nofollow noopener" target="_blank">The Edge Malaysia,PETRONAS Signs Contract for Natural Gas Production in Turkmenistan</a></li>
<li><a href="https://www.offshore-technology.com/marketdata/block-1-conventional-oil-field-turkmenistan/" rel="nofollow noopener" target="_blank">Offshore Technology,Block 1 Conventional Oil Field,Turkmenistan</a></li>
<li><a href="https://oilgas.gov.tm/en/posts/habarlar/1997/petronas-launched-another-oil-production-platform-in-the-turkmen-sector-of-the-caspian-sea" rel="nofollow noopener" target="_blank">Turkmenistan Oil and Gas,PETRONAS Launched Another Oil Production Platform in the Turkmen Sector of the Caspian Sea</a></li>
<li><a href="https://ciet-turkmenistan.com/en/post/440" rel="nofollow noopener" target="_blank">CIET Turkmenistan,PETRONAS Plans to Monetize Gas Resources in Turkmen Caspian Sector</a></li>
</ul>
<h2>Related Topics</h2>
<ul>
<li>Petronas Carigali Turkmenistan</li>
<li>Turkmenistan Block 1</li>
<li>Caspian Sea offshore gas</li>
<li>XRG PJSC</li>
<li>ADNOC international gas portfolio</li>
<li>Hazarnebit NGDU</li>
<li>Turkmennebit</li>
<li>Turkmengas</li>
<li>Gas and condensate production sharing contracts</li>
<li>Offshore Caspian platform operations</li>
</ul>

IEPTC reference profile for Block 1 Oil and Gas in Turkmenistan,covering asset type,location,development status,and upstream industry context.

Block 1 Oil and Gas Project,Turkmenistan

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Block 1 Oil and Gas Project,Turkmenistan

Block 1 Oil and Gas Project,Turkmenistan

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