Today, the official opening of the office of Ustyurt Operating Company, established within the framework of cooperation between Uzbekistan and Azerbaijan, took place

As previously reported, the Ministry of Energy of the Republic of Uzbekistan, the State Oil Company of the Republic of Azerbaijan (SOCAR), and JSC “Uzbekneftegaz” signed a Production Sharing Agreement providing for geological exploration work on the investment blocks of the Ustyurt oil and gas region and the subsequent extraction of hydrocarbons.

Today, the opening ceremony of the project operator’s office under this Agreement — Ustyurt Operating Company — was held. This event marks an important step toward implementing the country’s energy initiatives and further strengthening strategic cooperation between Uzbekistan and Azerbaijan. The establishment of the operator’s office signifies the transition of the project into an active implementation phase.

Within a short period, the Production Sharing Agreement was approved, the operating company was established and registered, professional teams were formed, and the necessary permits were obtained. Preparations for field geological exploration work have now begun.

Ustyurt Operating Company is expected to contribute to strengthening the country’s resource base, improving the efficiency of geological exploration, and ensuring long-term energy sustainability. The company’s main objectives include the introduction of modern technologies, the expansion of production capacity, and the promotion of sustainable industry development.

This project serves as an important foundation for expanding interstate cooperation. The new management and partnership mechanisms being developed within its framework serve the mutual interests of both countries. The opening of the new office strengthens the institutional basis of this partnership and creates broad opportunities for active work in the subsequent stages of the project’s implementation.