Malaysia's Petronas invest USD8b in O&G exploration in Turkmenistan

(MENAFN) Malaysia-based oil and gas company Petroliam Nasional Berhad (Petronas) announced investing USD8 billion in oil and gas exploration works in Turkmenistan in order to increase its production, QNA reported. Turkmenistan is ranked fourth among countries with proven gas reserves, following Iran, Russia and Qatar, with an area of 17.5 trillion cubic meters. "Petronas also plans to increase its gas and petrochemical flow. With this, the output in the production sharing contract area can be further enhanced," Malaysia's Prime Minister said.