CASPIAN OIL & GAS - SOCAR talks on exploration in investment blocks of Uzbekistan

SOCAR talks on exploration in investment blocks of Uzbekistan


The results of seismic data processing in the Fergana Valley of Uzbekistan have been presented to the Uzbek side for consideration, Azerbaijani state oil company SOCAR told Trend.

“As for cooperation with Uzbekistan, some time ago, a trilateral memorandum was signed with Uzbekneftegaz. Since then, some seismic data from the Fergana Valley has been processed and interpreted, and the results were presented to the Uzbek side,” the company said.

In May 2018, Uzbekneftegaz, on one side, and BP and SOCAR, on the other side, signed a memorandum of understanding on exploring the possibility of conducting joint exploration and development of deposits in Uzbekistan and a memorandum of understanding on exploring opportunities for exploration in the investment blocks of Uzbekistan.

In addition, in 2017, SOCAR and Uzbekneftegaz reached an agreement on conducting joint oil and gas operations in Azerbaijan and Uzbekistan, as well as in third countries.

And recently, Uzbekistan proposed SOCAR and BP to explore the possibilities of joint geological exploration of the Aralomorsk, Samsko-Kosbulak and Baiterek investment blocks of the country’s Ustyurt region.

Representatives of the delegations expressed their interest and briefed about the meetings, held on this issue in joint-stock companies IGIRNIGM, Uzbekgeofizika and UzLITIneftegaz.

Following the meeting, the parties agreed to continue the dialogue in the designated areas.