SOCAR, Uzbekneftegaz Hashing Out Next Steps For Ustyurt Oil And Gas Project

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 4.​ Executives from Uzbekneftegaz and the State Oil Company of the Azerbaijan Republic (SOCAR) held talks to discuss progress on the production sharing agreement, the start of geological exploration in the Ustyurt Plateau, and the creation of an operating company, Trend reports via Uzbekneftegaz JSC.

The parties kicked the tires on the technical aspects of the project and decided to fast-track the organizational procedures. Subsequent to the deliberations, a consensus was achieved to finalize the incorporation of the operational entity in September, establish revised schedules for geophysical investigations, and initiate the ecological evaluation protocol for the undertaking.

The participants underscored the need to join forces and reiterated their pledge to keep the wheels turning together.

On July 24, 2025, the Ministry of Energy of Uzbekistan, SOCAR, and Uzbekneftegaz executed a production sharing agreement, delineating the framework for geological exploration and the subsequent extraction of hydrocarbons within the Ustyurt oil and gas investment blocks.

An ancient geological feature, the Ustyurt Plateau spans over 200,000 square kilometers across Uzbekistan, Kazakhstan, and Turkmenistan. This plateau is a huge flat semi-desert flanked by 100-meter cliffs and walls of compacted limestone and chalk from an old sea. These cliffs have distinctive formations due to water, wind, and time. The Ustyurt Plateau in Uzbekistan has a long line of "chinks," cliffs going north to south along the Aral Sea.

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