Mirziyoyev: SOCAR and BP are conducting geological exploration work on six blocks in Ustyurt

The State Oil Company of Azerbaijan (SOCAR) and British company British Petroleum (BP) are conducting geological exploration operations on six blocks in the Ustyurt region of Uzbekistan.

As reported by BAKU.WS with reference to Report, this was stated by President Shavkat Mirziyoyev during an open dialogue with investors.

"Another 128 blocks in other regions have been prepared for offering to foreign partners," he said.

According to him, preliminary estimates show that the resource potential of these blocks amounts to 5.8 trillion cubic meters of gas and 560 million tons of liquid hydrocarbons.

"Uzbekistan is not limited to the domestic energy market. The project to supply 'green' energy to Europe via the Caspian Sea jointly with Azerbaijan and Kazakhstan is moving to a practical stage. Afghanistan and South Asian markets have also been identified as promising directions," Mirziyoyev noted.

As a reminder, on July 24, 2025, the Ministry of Energy of Uzbekistan, SOCAR, and Uzbekneftegaz signed a Production Sharing Agreement (PSA) providing for geological exploration operations and subsequent hydrocarbon extraction in the Ustyurt region.

The PSA provides for geological exploration operations, development, and extraction of hydrocarbons on six investment blocks of Northern Ustyurt: Boyterak, Terengkuduk, Birgori, Kharoy, Karakalpok, and Kulboy. British BP joined the agreement with a 40% stake, acquiring 20% each from the existing partners — SOCAR and Uzbekneftegaz, which previously held 50% each.