Tashkent: 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 encompasses the Boyterak, Terengquduq, Birqori, Kharoy, Qoraqalpoq, and Qulboy blocks.

According to Azeri-Press News Agency, the agreements were signed in Tashkent during the 'Oil and Gas of Uzbekistan Conference - 2026'. The signatories included 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 Trkiye.

BP has acquired a total 40% participating interest in the PSA, obtaining 20% from each of the existing partners, SOCAR and Uzbekneftegaz. Following BP's entry, the participating interests in the PSA are now BP with 40%, Uzbekneftegaz with 30%, and SOCAR with 30%, with SOCAR acting as the operator.

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