In order to successfully fulfil the objectives set for the oil and gas industry, as well as the effective development of license blocks located in the Turkmen sector of the Caspian sea, based on the Law of Turkmenistan «On hydrocarbon resources», the President of Turkmenistan signed a Resolution according to which the State concern «Türkmennebit» is allowed to conclude an agreement on the development of license blocks in the Turkmen sector of the Caspian sea between the State concern «Türkmennebit», the Malaysian company «Petronas Çarigali (Türkmenistan) Sdn. Bhd» and the state enterprise «Hazarnebit» of the Concern.