Azerbaijan and Uzbekistan have strengthened their energy partnership with the launch of a joint exploration project in the Ustyurt region, highlighting growing strategic cooperation between the two countries.
Uzbekistan’s Energy Ministry, the State Oil Company of the Azerbaijan Republic (SOCAR), and Uzbekneftegaz signed a Production Sharing Agreement (PSA) on Thursday for the exploration and subsequent production of hydrocarbons in investment blocks located in the Ustyurt oil and gas region.
Azerbaijan's SOCAR, Kazakhstan's KazMunayGas, Uzbekistan's Uzbekneftegaz, and Russia's Tatneft have signed a landmark agreement to cooperate on decarbonization and sustainable development initiatives.
On March 4, President of the Republic of Azerbaijan Ilham Aliyev met with Nail Maganov, General Director of Russia’s "Tatneft," Askhat Khassenov, Chairman of the Management Board of Kazakhstan’s "KazMunayGas," and Bakhodirjon Sidikov, Chairman of the Board of Uzbekistan’s "Uzbekneftegaz."
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