BAKU, Azerbaijan, December 5. Uzbekistan's Tashkent hosted a ceremony to mark the opening of the office of the SOCAR's (State Oil Company of the Azerbaijan Republic) Ustyurt Operating Company, Trend reports via the company.
The event was attended by Bahodirjon Sidikov, Chairman of the Board of the joint-stock company Uzbekneftegaz, SOCAR Vice President Arzu Javadova, project team members, and representatives of government bodies who contributed to the project’s implementation.
Speakers underlined that the Ustyurt Operating Company will play an important role in developing geological exploration potential, implementing innovative technologies in the field, and strengthening the region's energy resilience. It was noted that the establishment of the company and the opening of its office reflect the strong, friendly, and fraternal ties between Azerbaijan and Uzbekistan. Officials highlighted that the political will of the two countries’ leaders and support at the highest government level create favorable conditions for implementing such important projects successfully.
It was noted that exploration, development, and production in the investment blocks (Boyterak, Terengkuduk, Birgori, Kharoy, Karakalpak, and Kulboy) under the Production Sharing Agreement (PSA) are considered a key stage in advancing the energy cooperation strategy between Azerbaijan and Uzbekistan.
“Opening the office of the operational company marks the transition of the project into an active operational phase. All necessary preparatory work has been completed in a short period, including company registration, obtaining key licenses, and conducting procedures related to the start of geological exploration,” the statement said.
The Ustyurt Plateau, located in Uzbekistan, is noted for its hydrocarbon wealth. In 2025, Uzbekistan and Azerbaijan's SOCAR signed a Production Sharing Agreement (PSA) to develop six blocks in East Ustyurt. Initial estimates indicate possible reserves of approximately 100 million tons of oil and 35 billion cubic meters of gas, with an annual production target of 5 million tons of oil. The project will utilize deep drilling techniques, reaching up to 6,500 meters, and advanced seismic surveys, marking a notable advancement in exploration methods.
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