The
agreement covers the Boyterak,
Terengquduq, Birqori, Haroy, Qoraqalpoq, and Qulboy blocks located in
the Ustyurt region. The signing ceremony was attended by Jurabek Mirzamahmudov,
Abdugani Sanginov, Rovshan Najaf, and Giovanni Cristofoli.
It is
noted that this project represents bp's first initiative in Uzbekistan and will
be implemented in cooperation with JSC
Uzbekneftegaz and SOCAR.
According to the parties, this project, which possesses high resource
potential, will serve to expand the exploration and development of oil and gas
reserves, as well as create long-term economic benefits. Furthermore, the PSA
was highlighted as a significant part of bp’s exploration portfolio expansion
and long-term growth strategy.
The shares in the agreement are distributed as follows:
·
bp — 40%;
·
SOCAR — 30%;
·
JSC Uzbekneftegaz — 30%.
For reference, this Production Sharing Agreement was initially signed on July 24, 2025, between the Ministry of Energy of the Republic of Uzbekistan, JSC Uzbekneftegaz, and SOCAR. Currently, the first phase of the project is underway, with SOCAR serving as the operator conducting seismic
