17:23 - 20.06.2025

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June 20, Fineko/abc.az. The State Oil Company of Azerbaijan (SOCAR) is exploring the possibility of joint exploration activities at Karakalpak investment block of Uzbekistan.

ABC.AZ informs that Azerbaijani Economy Minister Mikayil Jabbarov made the relevant statement during the III Azerbaijan-Uzbekistan Interregional Forum in Baku.

"SOCAR and Uzbekneftegaz have a fairly broad partnership and interaction, and now we are at the stage of entering SOCAR, together with Uzbekneftegaz, into the development of one of the promising oil and gas fields in Uzbekistan and expect that full-scale work related to this field will begin in the near future," he said.

The minister also noted that cooperation in the liberated territories of Azerbaijan, in the Karabakh and East Zangezur economic regions, is of particular importance.

"Attractive conditions have been created here for investors: tax incentives, full connection to the infrastructure and preferences for social contributions," Jabbarov said.