# BP has signed into a production sharing agreement (PSA) for six oil and gas exploration blocks in Uzbekistan’s North Ustyurt region.

*business · news · 2026-05-13 · OilPrice*

## Key points

- BP has acquired a 40% stake in six upstream blocks in North Ustyurt, Uzbekistan.
- This marks BP’s first direct entry into Uzbekistan’s oil and gas upstream sector.
- SOCAR and Uzbekneftegaz each retain 30% stakes, with SOCAR remaining the project operator.
- Seismic activities have already commenced in the first phase of the PSA project.
- The deal is seen as a signal of increased international investor confidence in Uzbekistan's energy reforms.

**Companies:** BP, SOCAR, Uzbekneftegaz
**Countries:** Uzbekistan, Azerbaijan

[Read the full story on OilPrice](https://oilprice.com/Company-News/BP-Enters-Uzbekistan-Gas-Exploration-Deal-With-SOCAR-and-Uzbekneftegaz.html)

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