The government of Uzbekistan has reportedly set a course to expand cooperation with foreign corporations in the oil and gas sector, focusing on geological exploration, enhanced field efficiency, and deep raw material processing. These plans were outlined during a publicized dialogue meeting between authorities and investors in the fuel and energy sector.

According to official claims, Azerbaijan’s SOCAR and British-based BP (British Petroleum) are currently conducting geological exploration across six investment blocks in the Ustyurt region. However, independent observers remain skeptical regarding the actual operational timelines and the ultimate commercial viability of these ventures.

Furthermore, the administration announced the preparation of an additional 128 blocks across various regions intended for foreign partners. Preliminary estimations suggest these blocks allegedly harbor up to 5.8 trillion cubic meters of natural gas and 560 million tons of liquid hydrocarbons, figures that analysts suggest should be viewed with considerable caution given the lack of verified data.

The leadership emphasized that competition, transparency, and economic efficiency must serve as the core criteria for developing these resources. Despite these statements, the precise geographical locations of the 128 blocks, the timeline for offering them to investors, and the tentative terms of cooperation have not been disclosed, introducing significant uncertainty into the process.

Previously, the Uzbek Ministry of Energy, SOCAR, and Uzbekneftegaz signed a five-year product-sharing agreement aimed at exploration and drilling activities. While optimistic projections claim potential discoveries of massive oil and gas reserves, the high financial costs and technical complexities pose substantial economic risks for the country's energy infrastructure.

Source: www.gazeta.uz