The Turkmennebit State Concern provided information on the conditions for foreign companies to participate in the development of the Turkmen sector of the Caspian Sea. Batyr Jumayev, Deputy Chairman of the Concern, spoke about this at the 31st International Conference and Exhibition "Oil and Gas of Turkmenistan" (OGT 2026) in Ashgabat. According to him, the development of hydrocarbon resources in the national sector of the Caspian Sea remains one of the priority areas for attracting investment in the country's oil sector. Cooperation with foreign companies in this area is carried out on the basis of the Law of Turkmenistan "On Hydrocarbon Resources". This law guarantees the rights of foreign investors in conducting oil operations and concluding production sharing agreements. The Turkmen part of the Caspian Sea is divided into more than 30 license areas. An interested investor can submit an official application to the Turkmennebit State Concern for one or more areas. After considering the application, if the concern's specialists confirm that the company meets the established requirements, it is invited to participate in direct, non-exclusive negotiations on the selected area. Upon successful completion of the negotiations, the parties conclude a production sharing agreement or another agreement provided for by law. In addition to the production sharing agreement, the law allows for the conclusion of a concession agreement with royalty and tax payment terms, a joint venture agreement, and a risky services agreement. Batyr Jumayev explained that the legislation allows for the harmonization of different types of these agreements, as well as the use of other agreements used in international practice. He highlighted a number of guarantees created for investors. "First of all, this is a simplified preferential tax system, which provides for only one type of tax - profit tax and two or three types of payments for the right to use natural resources," the deputy head of the concern noted. At the same time, investors are exempt from other mandatory payments, fees and duties. Agreements concluded on the supply of imported and exported goods, materials and equipment for the conduct of Petroleum Operations are not required to be registered with the State Commodity and Raw Materials Exchange of Turkmenistan. A Contractor shall be exempt from customs duties and fees levied upon the import or export of equipment and materials, including duties related to the amount of extracted hydrocarbons attributable to it. These benefits shall also apply to subcontractors. In addition, the investor may freely dispose of the portion of hydrocarbons attributable to it. In addition, it shall have the right to process oil at oil refineries without additional taxes, licenses and permits. According to Batyr Jumayev, the concern cooperates with Dragon Oil, Petronas and ADNOC under production sharing agreements in the offshore sector. In June 2026, a production sharing agreement for blocks 19 and 20 was signed by the Turkmennebit State Concern, the Malaysian Petronas Carigali (Turkmenistan) Sdn. Bhd. company and the Hazarnebit State Enterprise. In addition, geological exploration work has begun in accordance with the agreement between Petronas Carigali and the Turkmennebit State Concern. Currently, two-dimensional (2D) seismic surveys are being conducted in blocks 11, 12, 13 and 14. According to the speaker, these steps confirm Turkmenistan's commitment to the "open door" policy and the country's attractiveness for investment. In conclusion, Batyr Jumayev said that the Turkmennebit State Concern is always ready to negotiate with international companies "on the basis of equality and mutual benefit."