SOCAR, Uzbekistan discuss new oil trading, refining, fuel retail projects

Trade cooperation between Azerbaijan’s state oil company SOCAR and Uzbekistan is expanding, with new projects under discussion in oil trading, refining and fuel retail.

The company said cooperation was also progressing in other areas, including the development of the Middle Corridor, personnel training for the oil and gas sector and digital transformation, SOCAR told Azertag. 

“The aim is to fully utilise the potential of the Middle Corridor and secure direct access to premium markets offering high returns. At the same time, particular importance is attached to training personnel for the oil and gas industry and the sector’s digital transformation,” the statement said.

SOCAR has also completed field seismic work under the Ustyurt geological exploration project in Uzbekistan, where it serves as operator. The company has begun selecting a contractor to process the seismic data, with the work expected to be completed in the first quarter of 2027 due to the volume of data collected.

The project covers the Boyterak, Teren Gudug, Birgori, Kharoy, Karakalpak and Gulboy investment blocks in the Ustyurt oil and gas region.

A production-sharing agreement signed in July 2025 by Uzbekistan’s Energy Ministry, SOCAR and Uzbekneftegaz provides for geological exploration and subsequent hydrocarbon production in the blocks. Under the agreement, bp holds a 40% interest, Uzbekneftegaz 30% and SOCAR, which serves as operator, 30%.

By Sabina Mammadli