Uzbekistan Offers 128 Oil And Gas Blocks As SOCAR, Bp Explore Ustyurt

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 16. Uzbekistan has prepared 128 additional oil and gas investment blocks for foreign partners, while Azerbaijan's State Oil Company (SOCAR) and UK-based bp are conducting exploration in six blocks in the Ustyurt region, President Shavkat Mirziyoyev said during a meeting with investors in the fuel and energy sector in Tashkent on October 16.

This was reported on the official channel of the press secretary to the President of the Republic of Uzbekistan, Sherzod Asadov.

Exploration is currently underway in six investment blocks in the Ustyurt region in cooperation with Azerbaijan's State Oil Company (SOCAR) and UK-based bp.

The planned expansion is part of Uzbekistan's broader efforts to strengthen cooperation in geological exploration, improve the efficiency of existing fields and increase the depth of hydrocarbon processing.

The 128 blocks prepared for potential foreign partners are located in areas outside the six blocks currently under exploration in Ustyurt. Their estimated resource potential could create additional opportunities for international companies seeking to participate in Uzbekistan's oil and gas sector.

According to preliminary estimates, the blocks hold 5.8 trillion cubic meters of natural gas and 560 million tons of liquid hydrocarbons. Competition, transparency and economic efficiency will be the key criteria for developing these resources.

By offering additional investment opportunities to foreign partners, Uzbekistan aims to broaden participation in exploration and resource development while ensuring that projects are implemented on competitive and economically viable terms.

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