Mikail Jabbarov: SOCAR Enters the Retail Market of Uzbekistan

The State Oil Company of Azerbaijan (SOCAR) is entering the retail market of Uzbekistan.

As reported by Report, this was stated by Azerbaijan's Minister of Economy Mikayil Jabbarov during the IV Interregional Forum of Azerbaijan and Uzbekistan taking place today in Tashkent.

The minister recalled that SOCAR, the largest state company of Azerbaijan, is actively participating as an investor in the development of the promising Ustyurt field in one of the regions of Uzbekistan in partnership with Uzbekneftegaz and the British company bp.

"We highly value the trust placed in us. SOCAR will contribute to strengthening the energy security of brotherly Uzbekistan. Also today, the entry into the retail market of Uzbekistan will be officially announced, followed by investments in the construction of a network of gas stations," M. Jabbarov emphasized.

The minister added that AzerGold CJSC, in partnership with Uzbek colleagues, will conduct geological exploration and engage in extraction.

"All of this activity is carried out in the regions of Uzbekistan," M. Jabbarov added.