Abu Dhabi National Oil Company’s (Adnoc) upstream subsidiary, XRG, has acquired a 38% interest in a large gas field in Turkmenistan, joining forces with Malaysia’s Petronas. The strategic deal represents a significant foray into Central Asia’s energy-rich region.
The transaction provides XRG with access to over 7 trillion cubic feet of natural gas, enhancing Adnoc’s international gas portfolio at a time of growing energy demand and changing supply patterns. The field is situated in the Galkynysh basin, one of the world’s largest gas reservoirs.
This alliance is set to unlock tremendous development and export potential, drawing on Petronas’ established infrastructure in the region. The two firms will work together on technology, sustainability, and growth plans in line with future energy objectives.
XRG’s entry marks Adnoc’s desire to diversify its upstream assets and become a top gas supplier in Asia and beyond, as the world transitions to cleaner fuel sources and competition for such sources intensifies.
