SOCAR Considers Joining Geological Exploration In Uzbekistan's Karakalpak Block

2025-06-20 09:08:18

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 20. The State Oil Company of the Azerbaijan Republic (SOCAR) is exploring opportunities for joint geological exploration in the Karakalpak investment block of Uzbekistan, said Mikayil Jabbarov, Azerbaijan's Minister of Economy, Trend reports.

Speaking at the III Azerbaijan-Uzbekistan Interregional Forum in Baku, Jabbarov highlighted the strategic importance of deepening economic and energy cooperation between the two countries.

"SOCAR and Uzbekneftegaz have a broad partnership and cooperation, and currently, we are at the stage of SOCAR's entry alongside Uzbekneftegaz into the development of one of the promising oil and gas fields in Uzbekistan. We expect full-scale work related to this field to begin soon," Jabbarov said.

The minister also emphasized the importance of cooperation in the liberated territories of Azerbaijan-in the Karabakh and East Zangazur economic regions.

"Attractive conditions have been created for investors here: tax incentives, full infrastructure connectivity, and social contribution preferences," the minister added.

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