The joint-stock company ‘Uzbekneftegaz’ and representatives of the State Oil Company of Azerbaijan (SOCAR) discussed prospects for further cooperation, focusing on the implementation of joint projects.
This was reported on Thursday by Trend, citing JSC ‘Uzbekneftegaz’.
The relevant issues were discussed during a meeting between the Chairman of the Board of JSC ‘Uzbekneftegaz’, Abdugani Sanginov, and SOCAR Vice-President Arzu Javadova.
The parties noted that since their previous meeting, cooperation has been steadily developing and significant results have been achieved. In particular, a joint venture agreement has been signed, and all necessary corporate approvals for its implementation have been obtained.
Following the talks, the parties confirmed their readiness to further strengthen their partnership and continue cooperation within the framework of ongoing projects.
It should be recalled that in August 2024, Uzbekneftegaz and SOCAR signed a cooperation agreement in the hydrocarbon sector, which marked the start of geological surveys on the Ustyurt Plateau, including seismic exploration and preparations for hydrocarbon production.
Furthermore, on 24 July 2025, the parties concluded a Production Sharing Agreement (PSA), which provides for the full satisfaction of Uzbekistan’s domestic oil requirements for the next 25 years. The gas produced will also be directed to the domestic market, supporting the country’s industry with affordable and high-quality petroleum products.
