SOCAR and BP Prepare for Exploration Drilling in Uzbekistan’s Ustyurt Region

Azerbaijan’s SOCAR, Britain’s BP, and state-owned Uzbekneftegaz are preparing for exploration drilling across six blocks in Uzbekistan’s Ustyurt region. Following completion of a 3D seismic survey, the next stage involves processing the data and selecting a site for the first exploration well. Drilling will help establish whether preliminary estimates of 100 million metric tons of oil and 35 billion cubic meters of gas could translate into commercially recoverable reserves. The work covered the Boyterak, Terengquduq, Birqori, Kharoy, Qoraqalpoq, and Qulboy blocks in the Republic of Karakalpakstan. The seismic survey covered more than 3,000 square kilometers, compared with a minimum commitment of 1,000 square kilometers. The partners reviewed the completed fieldwork and discussed preparations for exploration drilling at a managing committee meeting in Tashkent on September 7. The data still need to be processed and interpreted, and no drilling location or date has been announced. Total investment in the project has been estimated at approximately $2 billion, with development dependent on a commercial discovery. The partners remain at the exploration stage and have committed to drilling one well. Decisions on further investment will depend on its results. Uzbek officials expect the six blocks could contain around 100 million metric tons of oil and 35 billion cubic meters of gas. Potential annual oil production has been estimated at five million metric tons. All three figures remain projections: seismic data help identify promising structures, but drilling is needed to confirm the presence and characteristics of hydrocarbons. Uzbekistan’s Energy Ministry, SOCAR, and Uzbekneftegaz signed a production-sharing agreement covering the six blocks in July 2025. SOCAR was designated the operator. BP joined the project in May 2026, acquiring a 20% interest from each of the two original partners. The British company now holds 40%, while SOCAR and Uzbekneftegaz retain 30% each. The deal marks BP’s return to exploration in Uzbekistan, where it first signed exploration agreements with the same partners in 2018 before withdrawing in 2021. The acquisition coincided with BP’s renewed emphasis on oil and gas investment. The company had previously reduced its exploration portfolio as part of a shift toward low-carbon energy, but subsequently revised its strategy and refocused on its traditional business. When BP joined the project, its regional president for Azerbaijan, Georgia, and Turkey, Gio Cristofoli, said the company saw significant resource potential in Uzbekistan. He said participation in the agreement would expand BP’s exploration portfolio and support its long-term organic growth. For SOCAR, the Ustyurt survey is its largest seismic exploration project outside Azerbaijan. In June, the company reported that more than 80% of the seismic program had been completed and that initial results were providing insights into deeper geological structures. SOCAR announced the completion of fieldwork in July, with data processing expected to finish in the first quarter of 2027. The partners have developed a work plan through 2029. Uzbekneftegaz head Abdugani Sanginov previously proposed accelerating the project and beginning drilling by the end of 2027, but an approved drilling schedule has not been published. Uzbekistan needs to find...

Uzbekistan Expands Energy Cooperation With SOCAR and BP at Energy Week Forum

President Shavkat Mirziyoyev held talks on May 13 with executives from Azerbaijan’s state oil company SOCAR and energy giant BP during the Uzbekistan Energy Week 2026 forum in Tashkent. According to the Uzbekistan's presidency, Mirziyoyev met with SOCAR President Rovshan Najaf, as well as BP representatives Ariel Flores and Giovanni Cristofoli, to discuss expanding cooperation in the energy and oil and gas sectors. The sides noted the growing partnership between Uzbekistan and SOCAR, particularly in the development of hydrocarbon fields on the Ustyurt Plateau in western Uzbekistan. Officials also agreed to open a SOCAR representative office in Uzbekistan as cooperation between the two countries deepens. BP’s participation in the Ustyurt project was also highlighted during the meeting. Discussions focused on joint projects involving oil and gas exploration, hydrocarbon production, deep processing of raw materials, and long-term supplies of oil and petroleum products. The parties also discussed cooperation in training specialists for the energy industry. Najaf also thanked Mirziyoyev for Uzbekistan’s support in preparations for hosting the FIFA U-20 World Cup in 2027, which Uzbekistan and Azerbaijan are set to organize jointly. Najaf also serves as chairman of the Association of Football Federations of Azerbaijan. Energy cooperation between Uzbekistan and Azerbaijan has expanded significantly over the past year. In 2025, Uzbekistan’s Energy Minister Jurabek Mirzamahmudov said SOCAR and Uzbekneftegaz had established a joint operating company to oversee the Ustyurt project under a Production Sharing Agreement. Mirzamahmudov said seismic surveys covering more than 3,000 kilometers were expected to begin before the end of the year, followed by the drilling of the first exploration well. Last August, Azerbaijani President Ilham Aliyev announced that SOCAR had officially begun operations at an oil field in Uzbekistan. Aliyev said at the time that both sides hoped to make a major oil discovery within the next few years.