The State Oil Company of Azerbaijan (SOCAR) is entering Uzbekistan's retail market, Report informs, citing Azerbaijan's Minister of Economy and Chairman of SOCAR's Supervisory Board Mikayil Jabbarov, speaking at the 4th Azerbaijan‑Uzbekistan Interregional Forum in Tashkent today.
The minister recalled that SOCAR, Azerbaijan's largest state‑owned company, is actively participating as an investor in the development of the promising "Ustyurt" field located in one of Uzbekistan's regions, in partnership with Uzbekneftegaz and BP.
"We highly appreciate the trust placed in us. SOCAR will contribute to strengthening the energy security of brotherly Uzbekistan. Additionally, it will be officially announced today that we are entering Uzbekistan's retail market and investing in the construction of a network of filling stations," Jabbarov emphasised.
The minister added that AzerGold CJSC, in partnership with its Uzbek counterparts, will conduct geological exploration and extraction activities.
"All this activity is being carried out in the regions of Uzbekistan," Jabbarov added.
https://report.az/en/business/mikayil-jabbarov-socar-entering-uzbekistan-s-retail-market