Mikayil Jabbarov: SOCAR entering Uzbekistan's retail market

State Oil Company of Azerbaijan (SOCAR) is entering Uzbekistan's retail market, Report informs, citing Azerbaijani Minister of Economy Mikayil Jabbarov, who spoke at the 4th Azerbaijan-Uzbekistan Interregional Forum taking place today in Tashkent.

The minister recalled that SOCAR, Azerbaijan's largest state company, is actively involved as an investor in developing the promising Ustyurt field in Uzbekistan, in partnership with Uzbekneftegaz and BP.

"We highly value the trust placed in us. SOCAR will contribute to strengthening the energy security of brotherly Uzbekistan. Today, an official announcement will also be made regarding our entry into Uzbekistan's retail market, followed by investments in constructing a network of gas stations," Jabbarov emphasized.

The minister added that AzerGold CJSC, in partnership with Uzbek colleagues, will conduct geological exploration and mining operations.

"All of these activities are being carried out across the regions of Uzbekistan," Jabbarov noted.