Uzbekneftegaz and SOCAR conclude exploration project results in Ustyurt

Tashkent, Uzbekistan (UzDaily.com) — Uzbekneftegaz JSC and Azerbaijan’s SOCAR have summed up the results of their joint project on hydrocarbon exploration and production at the Ustyurt investment blocks. The outcomes were discussed during a working meeting between Uzbekneftegaz Chairman Abdugani Sanginov and SOCAR Vice President Arzu Javadova.

The parties reviewed the current status of operations carried out under the production sharing agreement and the transition to the next phase — industrial production. Company leaders praised the progress achieved, emphasizing that the project is being implemented in line with agreements reached at the highest level.

It is noted that Ustyurt is seeing the large-scale use of modern seismic surveying technologies for the first time. A number of technical solutions have been recognized as unique for the region: they accelerate exploration processes, improve the quality and accuracy of geophysical data, and create new technological opportunities for the sector.

The parties agreed to coordinate further stages of the project and ensure the implementation of the planned objectives.