TASHKENT, Uzbekistan, April 9. Uzbekneftegaz
and representatives of the State Oil Company of Azerbaijan (SOCAR)
discussed prospects for further cooperation with a focus on the
implementation of joint projects, Trend reports via the Uzbek company.
The issues were discussed during a meeting between Chairman of
the Board of Uzbekneftegaz Abdulgani Sanginov and Vice President of
SOCAR Arzu Javadova.
According to the statement, it was noted that since their
previous meeting, cooperation has been developing steadily, with
significant results achieved. In particular, a joint activity
agreement has been signed, and all necessary corporate approvals
have been obtained for its implementation.
Following the talks, the parties confirmed their readiness to
further strengthen the partnership and continue cooperation within
the framework of ongoing projects.
Meanwhile, in August 2024, Uzbekneftegaz and SOCAR signed a
cooperation agreement in the hydrocarbon sector, launching
geological studies on the Ustyurt Plateau, including seismic
exploration and preparations for hydrocarbon production.
Furthermore, on July 24, 2025, the parties signed a Production
Sharing Agreement (PSA), which provides for fully meeting
Uzbekistan’s domestic oil needs for the next 25 years. The
extracted gas will also be supplied to the domestic market,
supporting the country’s industrial sector with affordable and
high-quality petroleum products.
