Uzbekneftegaz, SOCAR Push Ustyurt Project toward Industrial Production
Uzbekistan’s Uzbekneftegaz and the State Oil Company of the Azerbaijan Republic (SOCAR) have reviewed progress on their joint hydrocarbon exploration and production project at the Ustyurt investment blocks, marking an important step toward industrial-scale output.
At a working meeting between Uzbekneftegaz Chairman Abdugani Sanginov and SOCAR Vice President Arzu Javadova, the sides assessed implementation of the production sharing agreement and noted that the project is advancing in line with high-level bilateral agreements, The Caspian Post reported, citing Uzbek media.
The project has introduced large-scale use of advanced seismic surveying technologies in Ustyurt for the first time. Several technical solutions have been described as unique for the region, helping to accelerate exploration, enhance the accuracy of geophysical data, and create new technological opportunities for the sector.
Both companies agreed to closely coordinate the next stages of work to ensure that planned targets are met, further strengthening energy cooperation between Uzbekistan and Azerbaijan.
