President of the State Oil Company of the Azerbaijan Republic (SOCAR) Rovshan Najaf has met with Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov and Energy Minister Sherzod Khodjaev to discuss expanding energy cooperation between the two countries.

The sides highlighted the dynamic growth of economic ties between Azerbaijan and Uzbekistan, including their expanding partnership in the energy sector, according to SOCAR.

The meeting focused on plans to build new SOCAR-branded filling stations in Uzbekistan and ongoing work under the Ustyurt investment blocks. The participants said the projects could contribute to strengthening energy cooperation between the two countries.

The officials also exchanged views on expanding cooperation between SOCAR and Uzbek companies, implementing joint investment projects and other issues of mutual interest.

SOCAR is currently involved in the Ustyurt project to develop hydrocarbon resources in Uzbekistan, with planned investment of around $2 billion.

On July 24, 2025, Uzbekistan’s Ministry of Energy, SOCAR and Uzbekneftegaz signed a Production Sharing Agreement (PSA) covering exploration and subsequent hydrocarbon production in the Ustyurt region.

The agreement covers six investment blocks - Boyterak, Terengkuduk, Birgori, Haroy, Karakalpok and Kulboy. SOCAR will serve as the operator during the geological exploration phase.

The initial five-year program includes exploration activities and the drilling of at least one exploration well. The agreement also calls for 3D seismic surveys covering at least 1,000 square kilometers.

According to projections, the Ustyurt blocks could contain a field with estimated reserves of 100 million tons of oil and 35 billion cubic meters of natural gas.

Once the project reaches production, annual oil output on the Ustyurt Plateau could potentially reach 5 million tons, according to the projections.