Baku: The Azerbaijan State Oil Company (SOCAR) has announced the commencement of contractor selection for processing seismic data related to the Ustyurt geological exploration project in Uzbekistan. This move follows the acquisition of over 3,000 terabytes of seismic data, as confirmed by SOCAR in response to an inquiry from AZERTAC.

According to Azerbaijan State News Agency, this initiative is part of the first phase of the production sharing agreement (PSA) signed on 24 July 2025. The agreement encompasses six blocks in the North Ustyurt region, namely Boyterak, Terengquduq, Birqori, Kharoy, Qoraqalpoq, and Qulboy. The PSA was originally established between SOCAR, Uzbekneftegaz, and the Ministry of Energy of the Republic of Uzbekistan, with SOCAR serving as the project operator responsible for seismic activities.

The project saw a significant development with bp entering as a participant. The current participating interests in the PSA are distributed as follows: bp holds a 40% stake, while Uzbekneftegaz and SOCAR each hold 30%, with SOCAR continuing in its role as the operator.