BP enters Uzbekistan with PSA for six blocks

Uzbekistan

TASHKENT, May 14, 2026 – BP has entered a PSA for six blocks in Uzbekistan’s North Ustyurt region, the company announced on Wednesday.

The agreement covers the Boyterak, Terengquduq, Birqori, Kharoy, Qoraqalpoq and Qulboy blocks. BP has taken a 40% participating interest in the PSA, with 20% acquired from each of the existing partners, namely Azerbaijan’s state oil company, SOCAR, and state-owned holding company, Uzbekneftegaz.

Following the transaction, BP holds 40%, Uzbekneftegaz holds 30%, and SOCAR remains as the operator with 30%. The PSA was originally signed on July 24, 2025, between SOCAR, Uzbekneftegaz and Uzbekistan’s Ministry of Energy.

The project is in its first development phase, expected to last around five years, during which SOCAR will undertake seismic activities and the drilling of a first exploration well.

“We are pleased to be entering our first project in Uzbekistan. We believe Uzbekistan has significant resource potential and see this as an opportunity to support the exploration and development of the country’s oil and gas resources, delivering long-term benefits to the region,” said Gio Cristofoli, BP’s regional president for Azerbaijan, Georgia and Turkey.

BP’s operations in the region include several PSAs and host government agreements in Azerbaijan, and pipeline and terminal assets in Georgia and Turkey.

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