• $
  • £

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

Similar news
Similar news
Azerbaijan’s ABB bank weighs $300-500 million Eurobond issue
Business 19:52
Azerbaijan’s ABB bank weighs $300-500 million Eurobond issue
SOCAR completes acquisition of 99.82% stake in Italy’s Italiana Petroli
Business 19:40
SOCAR completes acquisition of 99.82% stake in Italy’s Italiana Petroli
Chinese-crewed tanker attacked in Strait of Hormuz
Business 17:30
Chinese-crewed tanker attacked in Strait of Hormuz
Azerbaijani parliament to discuss eight issues on May 12
Business 17:00
Azerbaijani parliament to discuss eight issues on May 12
Azeri Light crude falls to $105.55 per barrel
Business 16:00
Azeri Light crude falls to $105.55 per barrel
New BP chief to make first visit to Baku this year
Business 15:27
New BP chief to make first visit to Baku this year
Azerbaijan demands explanation from Russia over map showing “Nagorno-Karabakh”
Political News 14:04
Azerbaijan demands explanation from Russia over map showing “Nagorno-Karabakh”
ABB plans to enter Uzbek market
Business 12:27
ABB plans to enter Uzbek market
Azerbaijan keeps dollar rate unchanged at 1.7 manats
Business 11:30
Azerbaijan keeps dollar rate unchanged at 1.7 manats
Anews TV

Our official Youtube channel

Subscribe