12:12 - 7.11.2025

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November 7, Fineko/abc.az. Uzbekistan plans to build a new oil refinery in case of discovery of oil reserves in the investment blocks of Ustyurt region within the contract signed with the State Oil Company of Azerbaijan (SOCAR), ABC.AZ informs, quoting Uzbek Energy Minister Zhurabek Mirzamakhmudov.

"Experts, and first of all SOCAR specialists, predict good oil performance. If the forecasts are confirmed, we will start work on the construction of an oil refinery in parallel," the minister said.

He added that an operator has already been established in the Ustyurt region to implement the Production Sharing Agreement (PSA) signed with SOCAR in the summer of 2025 on exploration and subsequent production.

"This is one of the most promising areas in the region, where previously mainly gas was produced. After studying all available materials, SOCAR expressed interest in exploring oil reserves. An operator has already been created within the framework of the signed PSA. The operator has now started conducting all necessary contract negotiations," he said.

The minister added that seismic work under the project is to begin before the end of this year.

"We have an ambitious task ahead of us - to speed up the start of work. By the end of this year, we plan to begin physical work on conducting seismic surveys with a volume of more than 3,000 linear kilometers. Based on the results of these works, we plan to drill the first well," he said.

Mirzamakhmudov added that under the PSA, seismic exploration, drilling and obtaining initial results are planned for the first three years. It will take from three to five years to reach the first production, taking into account the construction of the necessary infrastructure.

"Drilling was not carried out directly in these areas, but it was conducted in neighboring territories. SOCAR decided to participate in the project after studying the historical data that we provided. Technology has advanced significantly: if no major discoveries were expected in the Ustyurt region in the 70s, modern interpretation methods have shown high potential. This is confirmed by the results of research and other analytical companies."