Uzbekneftegaz and SOCAR are set to explore the opportunities for joint oil production in the Caspian Sea, the Uzbekistan Ministry of Energy said.
The First Deputy Minister of Energy of Uzbekistan, Jurabek Mirzamakhmudov and Chairman of Uzbekneftegaz, Bakhodir Sidikov during the talks in Baku with SOCAR President, Rovnag Abdullayev discussed the prospects of cooperation in the oil and gas sector.
Following the talks, the parties signed roadmaps providing for an early launch of SOCAR’s projects in Uzbekistan and agreed to set up production of oil and gas equipment and components for well drilling and workover in Uzbekistan.
In May, Uzbekneftegaz, SOCAR and BP Exploration (Caspian Sea) signed the Geological Exploration Agreement in the Uzbek part of the Aral Sea, Sam-Kosbulak and Baiterek investment blocks of the Ustyurt region. While, Uzbekneftegaz and SOCAR also signed an agreement to increase hydrocarbon production at four fields in southern Uzbekistan using advanced technologies of the Azerbaijani company.
