Eni and Turkmenistan’s State Agency for Management and Use of Hydrocarbon Resources signed an addendum to the production-sharing agreement (PSA) with respect to the onshore Nebit Dag area located in West Turkmenistan, a press release said.

The addendum extends the duration of the PSA to February 2032 and a 10% stake out of the contractor share is transferred by Eni, operator of the block, to Turkmenneft. Eni will keep the remaining 90% interest stake in the PSA. This agreement will enable further E&P investments in Burun and other satellite fields of the Nebit Dag Block.

In a separate agreement, Eni and the Turkmen State Agency for Management and Use of Hydrocarbon Resources signed a memorandum to explore the possibility of extending Eni’s activities to Turkmenistan’s offshore sector of the Caspian Sea.