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Turkmenistan’s offshore Caspian Sea sector holds significant oil and gas potential, with key developments including the joint Azerbaijan-Turkmenistan Dostlug (Friendship) field, historically disputed but now slated for cross-border development. Major players like Dragon Oil (UAE) and Malaysian firms (Petronas) operate there, focusing on Production Sharing Agreements (PSAs) to extract resources, vital for Turkmenistan’s economy, with ongoing efforts to attract foreign investment for blocks like 29, 30, and 31.
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