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On 24 July 2025, a meeting was held in Tashkent between Rovshan Najaf, President of SOCAR, Jurabek Mirzamahmudov, Minister of Energy of the Republic of Uzbekistan, and Bakhodirjon Sidikov, Chairman of the Management Board of Uzbekneftegaz JSC.
During the meeting, satisfaction was expressed with the expansion of cooperation between SOCAR and Uzbekneftegaz JSC. In this context, the importance of signing the Production Sharing Agreement (PSA) for the exploration, development, and production of the "Ustyurt" investment blocks (Boyterak, Terengquduq, Birqori, Kharoy, Qoraqalpoq and Qulboy) was highlighted, the prospects for cooperation between the two companies were discussed.
A Production Sharing Agreement (PSA) was signed between the Government of the Republic of Uzbekistan and the Consortium of SOCAR and Uzbekneftegaz for the exploration, development, and production of the "Ustyurt" investment blocks (Boyterak, Terengquduq, Birqori, Kharoy, Qoraqalpoq and Qulboy) in Uzbekistan.
In the initial phase of the agreement, geological exploration activities will be carried out to identify perspective areas. During this period, SOCAR will act as the operator. According to the agreement, the exploration phase, including the drilling of at least one exploration well, is planned to be completed within an initial period of five years.
The signing of this agreement marks a new stage of strategic cooperation in the energy sector and is expected to bring mutual benefits to both parties.
