TASHKENT, Uzbekistan, September 17. As part of a memorandum of cooperation signed between Uzbekistan's national oil and gas company, Uzbekneftegaz, and Azerbaijan's State Oil Company (SOCAR), a group of specialists underwent training in human resources management at SOCAR, Trend reports, citing Uzbekneftegaz.
During the training, participants exchanged experiences in labor relations, effective personnel management, organizational development, and productivity enhancement.
In August 2024, Uzbekneftegaz and SOCAR signed a cooperation agreement in the hydrocarbon sector. Under this partnership, geological surveys, including seismic studies and preparations for hydrocarbon production, commenced on the Ustyurt Plateau.
On July 24, the parties signed a Production Sharing Agreement (PSA), which will allow Uzbekistan to fully meet its domestic oil needs for the next 25 years. The extracted gas will be directed to the local market, ensuring that domestic industries have access to affordable and high-quality petroleum products.