Uzbekneftegaz, SOCAR Discuss Prospects For Joint Projects

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, April 9. Uzbekneftegaz and representatives of the State Oil Company of Azerbaijan (SOCAR) discussed prospects for further cooperation with a focus on the implementation of joint projects, Trend reports via the Uzbek company.

The issues were discussed during a meeting between Chairman of the Board of Uzbekneftegaz Abdulgani Sanginov and Vice President of SOCAR Arzu Javadova.

According to the statement, it was noted that since their previous meeting, cooperation has been developing steadily, with significant results achieved. In particular, a joint activity agreement has been signed, and all necessary corporate approvals have been obtained for its implementation.

Following the talks, the parties confirmed their readiness to further strengthen the partnership and continue cooperation within the framework of ongoing projects.

Meanwhile, in August 2024, Uzbekneftegaz and SOCAR signed a cooperation agreement in the hydrocarbon sector, launching geological studies on the Ustyurt Plateau, including seismic exploration and preparations for hydrocarbon production.

Furthermore, on July 24, 2025, the parties signed a Production Sharing Agreement (PSA), which provides for fully meeting Uzbekistan's domestic oil needs for the next 25 years. The extracted gas will also be supplied to the domestic market, supporting the country's industrial sector with affordable and high-quality petroleum products.

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