BP joins SOCAR and Uzbekneftegaz oil and gas project in Uzbekistan

Britain’s BP has joined a production-sharing agreement for oil and gas blocks in Uzbekistan’s North Ustyurt region, previously signed by SOCAR and Uzbekneftegaz.

BP acquired a 40% stake in the project by taking 20% each from SOCAR and Uzbekneftegaz. Following the transaction, BP holds 40%, SOCAR 30% and Uzbekneftegaz 30%. SOCAR remains the project operator.

The agreement covers the Boyterak, Terenggudug, Birgori, Kharoy, Goragalpok and Gulboy blocks.

The production-sharing agreement was initially signed on July 24, 2025 by SOCAR, Uzbekneftegaz and Uzbekistan’s energy ministry. The project is currently at an early stage, with SOCAR conducting seismic surveys.