Adnoc’s newly established international arm XRG has made concrete progress on its plans to enter Turkmenistan’s extremely challenging upstream sector. Adnoc XRG Turkmenistan Ltd was incorporated in the UK on 5 February, following high-level discussions between officials from the two countries over the last year, with Adnoc signing an MoU with state firm Türkmengaz in 2024 to discuss potential future phases of development of the 27tcm (950 tcf) - not all proven - Galkynysh gas field in southeastern Turkmenistan (MEES, 24 January).
Two key officials who have been leading XRG’s negotiations in Turkmenistan, and in implementing its upstream strategy more broadly, are listed as directors at Adnoc XRG Turkmenistan; Mohamed al-Aryani, who has now been confirmed as XRG President International Gas, and Abdulla al-Shamsi, who has been appointed XRG’s Director of Business Development. A third director of the firm is Kyle Knight, who is Adnoc General Counsel (Upstream). Adnoc XRG Turkmenistan was incorporated with a value of $2.5mn. (CONTINUED - 987 WORDS)
