BAKU, Azerbaijan, October 16. Uzbekistan has
prepared 128 additional oil and gas investment blocks for foreign
partners, while Azerbaijan’s State Oil Company (SOCAR) and UK-based
bp are conducting exploration in six blocks in the Ustyurt region,
President Shavkat Mirziyoyev said during a meeting with investors
in the fuel and energy sector in Tashkent on October 16.
This was reported on the official channel of the press secretary
to the President of the Republic of Uzbekistan, Sherzod Asadov.
Exploration is currently underway in six investment blocks in
the Ustyurt region in cooperation with Azerbaijan’s State Oil
Company (SOCAR) and UK-based bp.
The planned expansion is part of Uzbekistan’s broader efforts to
strengthen cooperation in geological exploration, improve the
efficiency of existing fields and increase the depth of hydrocarbon
processing.
The 128 blocks prepared for potential foreign partners are
located in areas outside the six blocks currently under exploration
in Ustyurt. Their estimated resource potential could create
additional opportunities for international companies seeking to
participate in Uzbekistan’s oil and gas sector.
According to preliminary estimates, the blocks hold 5.8 trillion
cubic meters of natural gas and 560 million tons of liquid
hydrocarbons. Competition, transparency and economic efficiency
will be the key criteria for developing these resources.
By offering additional investment opportunities to foreign
partners, Uzbekistan aims to broaden participation in exploration
and resource development while ensuring that projects are
implemented on competitive and economically viable terms.
