# UK energy giant BP is shaping up as the pivotal player in the development of Ustyurt’s potential energy riches.

*business · news · 2026-04-07 · OilPrice*

## Key points

- BP signed an exploration deal with KazMunayGaz for a promising Ustyurt block on April 2.
- Uzbekistan and SOCAR signed a 2025 production sharing agreement covering at least 1,000 square kilometers in Ustyurt.
- KazMunayGaz announced discovery of the Zhylyoi deposit, estimated at over 20 billion tons of hydrocarbons.
- Zhylyoi's onshore location reduces capital costs compared to offshore Kashagan and offers Kazakhstan higher revenue share.
- BP is considering a new trans-Caspian gas corridor to transport Kazakh and Turkmen gas to Europe.

**Companies:** BP, SOCAR, KazMunayGaz, Uzbekneftegaz
**Countries:** Kazakhstan, Uzbekistan, Azerbaijan, UK

[Read the full story on OilPrice](https://oilprice.com/Energy/Energy-General/BP-Moves-to-Unlock-a-Potential-Gas-Bonanza-in-Eurasia.html)

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