Uzbekistan and SOCAR Engage in New Oil and Gas Ventures
Uzbekistan and SOCAR are collaborating on new oil and gas projects, including a $2 billion investment in the Ustyurt region. This partnership aims to enhance trade relations and develop modern filling stations across Uzbekistan.
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Uzbekistan's Investment, Industry and Trade Ministry has announced ongoing discussions with SOCAR regarding oil and gas projects, including the $2 billion Ustyurt hydrocarbon development. The recent production-sharing agreement signed on July 24, 2025, covers six investment blocks in the Ustyurt oil and gas region, with an estimated 100 million tonnes of oil and 35 billion cubic meters of natural gas.
Additionally, SOCAR's plans to expand its network of filling stations in Uzbekistan were solidified through a cooperation agreement with Uzbekneftegaz on August 23. The strategic partnership aims to accelerate project advancements and increase trade volumes, highlighting a significant opportunity for energy sector growth in Uzbekistan.
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