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British energy major BP is set to significantly expand its Central Asian footprint by partnering with Azerbaijan's SOCAR to develop oil and gas fields in Uzbekistan. The joint venture will focus on the Ustyurt plateau, a region with substantial hydrocarbon reserves.

"North Ustyurt" Project Details

The ambitious project, dubbed "North Ustyurt," will encompass areas within the Republic of Karakalpakstan. Investors plan to explore and develop six promising blocks: "Birkhoryk," "Biyterek," "Karakalpak," "Kulboy," "Terenqudyk," and "Karoydy." BP will serve as the operator and holds the largest stake in this venture, underscoring its commitment to the region.

Significant Reserves Anticipated

Preliminary estimates suggest the Ustyurt territory in Uzbekistan holds approximately 100 million tons of oil and 35 billion cubic meters of natural gas. These figures highlight the immense potential of the "North Ustyurt" project.

Implications for Kazakhstan

The growing interest from major international energy companies in the Ustyurt plateau has a transboundary significance. Notably, BP had previously announced plans to explore the potential of the Kazakhstani side of the Ustyurt plateau in collaboration with Kazakhstan's national oil company, KazMunayGas. Experts believe that the successful implementation of the Uzbek project could accelerate investment decisions for similar sites in Kazakhstan, given the interconnected geological structures of the region.

This strategic move by BP positions the company to leverage its expertise in both Uzbekistan and potentially Kazakhstan, capitalizing on the vast, underexplored hydrocarbon resources of the Ustyurt region.

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