Azernews.Az

Nazrin Abdul

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Uzbekneftegaz JSC and SOCAR have discussed the progress of geological exploration activities being carried out in the investment blocks of the Ustyurt region under a Production Sharing Agreement (PSA).

As reported by Azernews, citing Uzbekneftegaz, the issue was addressed during a business meeting between Akmal Saginov, Chairman of the Management Board of Uzbekneftegaz, and Arzu Javadova, Vice President of SOCAR.

The parties also reviewed the next implementation phase of the hydrocarbon production project.

The management of both companies positively assessed the results achieved so far within the framework of the joint project, noting that key objectives are being fulfilled on schedule.

It was reported that, as part of seismic exploration activities, modern technologies are being applied on a large scale in the region for the first time. Some of the solutions in use are unique to the Ustyurt area. This approach is accelerating geological exploration, improving the quality and accuracy of geophysical data, and contributing to the introduction of advanced technologies and standards in Uzbekistan’s oil and gas industry.

At the conclusion of the meeting, the sides agreed to coordinate and plan the project’s next stages to ensure the effective implementation of upcoming activities.