• $
  • €
  • ₽
  • ₺
  • £

Azerbaijan’s SOCAR to launch gas exploration in Uzbekistan’s Karakalpak block

Azerbaijan’s SOCAR to launch gas exploration in Uzbekistan’s Karakalpak block
20.06.2025 16:28

Azerbaijan’s state oil company SOCAR and Uzbekistan’s “Uzbekneftegaz” will begin joint geological exploration at the Karakalpak gas block on the Ustyurt plateau in northwestern Uzbekistan, the Azerbaijani economy minister said on Thursday.

Speaking at a meeting of the Azerbaijan-Uzbekistan intergovernmental commission in Baku on June 20, Economy Minister Mikayil Jabbarov, who also chairs SOCAR’s supervisory board, announced the launch of large-scale research at the site.

The project has been under discussion since 2018, when Uzbekistan discovered industrial-scale reserves of gas and condensate in the Lower Surgil region. British Petroleum (BP) initially joined the project but exited in 2019, leaving SOCAR to continue on its own.

Although Uzbekistan’s total gas reserves exceed 1 trillion cubic meters, declining domestic production—due to a lack of modern extraction technologies—has forced the country to import gas from neighboring Turkmenistan. In 2024, Uzbekistan produced over 40 bcm, but “Uzbekneftegaz” forecasts a drop to 26–27 bcm in 2025, below the level needed for domestic demand.

SOCAR says it is ready to provide technical and expert support for the development of the fields and views the project as a strategic contribution to Uzbekistan’s energy security.

N.Təbrizli

Twitter
Go
Similar news
Similar news
Bir and CineMastercard Announce New Partnership: Cinema Tickets Coming Soon to Birbank
Business 17:16
Bir and CineMastercard Announce New Partnership: Cinema Tickets Coming Soon to Birbank
Yelo Bank updates pre-trip inspection payments: VAT option added
Business 14:33
Yelo Bank updates pre-trip inspection payments: VAT option added
Russia Caps Cash Outflows to Azerbaijan and Regional States at 1 Million Rubles
Business 14:30
Russia Caps Cash Outflows to Azerbaijan and Regional States at 1 Million Rubles
Azerbaijan’s Monetary Base Surpasses 25 Billion Manats — CBA
Business 14:00
Azerbaijan’s Monetary Base Surpasses 25 Billion Manats — CBA
Azerbaijan’s Azeri Light Crude Drops Sharply on Global Markets
Business 12:00
Azerbaijan’s Azeri Light Crude Drops Sharply on Global Markets
Oil Prices Advance on Global Exchanges: Brent Tops $105 per Barrel
Business 11:33
Oil Prices Advance on Global Exchanges: Brent Tops $105 per Barrel
Bank Respublika and AccessBank announce the successful completion of a strategic transaction
Business 11:18
Bank Respublika and AccessBank announce the successful completion of a strategic transaction
Natural Gas Futures Rise on NYMEX for December Delivery
Business 11:00
Natural Gas Futures Rise on NYMEX for December Delivery
Precious Metals Fall on NYMEX/COMEX Trading
Business 10:29
Precious Metals Fall on NYMEX/COMEX Trading
Anews TV

Our official Youtube channel

Subscribe