SOCAR invests in a network of petrol stations in Uzbekistan
Azerbaijan's SOCAR is entering the Uzbek retail market and plans to invest in the construction of a network of gas stations.
SOCAR plans to invest in the creation of a network of gas stations in Uzbekistan.
Azerbaijan's state oil company SOCAR is entering the retail market of Uzbekistan, intending to invest in the creation of a network of gas stations. This was announced by Mikail Jabbarov, Azerbaijani Minister of Economy and Chairman of SOCAR's Supervisory Board, at the 4th Interregional Forum of Azerbaijan and Uzbekistan in Tashkent, according to the Report news agency.
Jabbarov noted that SOCAR is already an investor in the development of the Ustyurt field in Uzbekistan, collaborating with Uzbekneftegaz JSC and the British company BP.
"SOCAR will contribute to strengthening the energy security of fraternal Uzbekistan. Also, today, we will officially announce our entry into the Uzbek retail market, with subsequent investments in the construction of a network of gas stations," the minister stated.
Thus, the company intends to expand its presence in the Uzbek market, moving from participation in field development to operations in the retail segment of the fuel market. In addition, another Azerbaijani company, Azergold, presented its cooperation plans at the forum. The company intends to collaborate with Uzbek partners in the fields of geological exploration and mineral extraction.
Jabbarov emphasized that Azergold will also carry out these activities in the regions of Uzbekistan.