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bp enters North Ustyurt PSA in Uzbekistan

13 May 2026 10:41 (UTC +04:00)

bp today confirmed its entry into a production sharing agreement (PSA) for six blocks in the North Ustyurt region of the Republic of Uzbekistan, the company told APA-Economics.

The agreement includes the Boyterak, Terengquduq, Birqori, Kharoy, Qoraqalpoq and Qulboy blocks.

The agreements were signed in Tashkent on the sidelines of the “Oil and Gas of Uzbekistan Conference - 2026” by Jurabek Mirzamahmudov, Minister of Energy of the Republic of Uzbekistan; Abdugani Sanginov, Chairman of the Management Board of Uzbekneftegaz JSC; Rovshan Najaf, President of SOCAR; and Gio Cristofoli, bp’s regional president for Azerbaijan, Georgia and Türkiye.

bp has acquired a total 40% participating interest in the PSA – 20% from each of the existing partners SOCAR and Uzbekneftegaz. Following bp’s entry, the participating interests in the PSA are: bp 40%, Uzbekneftegaz 30% and SOCAR 30% (operator).

The PSA was originally signed on 24 July 2025 between SOCAR, Uzbekneftegaz and the Ministry of Energy of the Republic of Uzbekistan. The project is currently in its first phase, with SOCAR, as operator, undertaking seismic activities.

Emil Ismayilov

bp Uzbekistan SOCAR Uzbekneftegaz PSA production sharing agreement North Ustyurt oil and gas Uzbekistan Energy Ministry Rovshan Najaf Gio Cristofoli Azerbaijan Türkiye seismic activities energy cooperation