SOCAR and Uzbekneftegaz discussed cooperation in a videoconference format

The State Oil Company of Azerbaijan (SOCAR) and the national company of Uzbekistan "Uzbekneftegaz" plan to complete in September the registration process of an operator company for conducting geological exploration in investment blocks of the Ustyurt region. According to "Uzbekneftegaz", the heads of both companies held negotiations via videoconference.

During the meeting, issues of implementing the Production Sharing Agreement, approved by the decree of the President of Uzbekistan, as well as measures to accelerate the start of relevant work in the above-mentioned region were discussed.

The parties also considered technical aspects of project implementation and steps related to the creation of an operator company.

"As a result of the negotiations, an agreement was reached on completing the registration of the operator company in September, determining new timeframes for seismic exploration work, and beginning the procedures for environmental assessment of the project," the statement says.

More details in the Baku TV video material: