Uzbek President Reviews Oil and Gas Sector Development Plans

Tashkent, Uzbekistan (UzDaily.com) — President of Uzbekistan Shavkat Mirziyoyev has been presented with a report outlining measures to ensure stable operations in the oil and gas sector and to improve its financial and economic efficiency.

The discussion focused on the performance results of JSC Uzbekneftegaz for the first quarter of the current year, as well as priority tasks for the second quarter. The dynamics of production and financial indicators in the sector were also reviewed.

It was reported that measures are being implemented to maintain stable production volumes, offset losses, bring wells into operation and carry out repairs, as well as perform other technological works. At the same time, efforts are underway to optimize costs, reduce accounts receivable, improve resource efficiency, and enhance market mechanisms in certain areas.

Special attention was given to improving the efficiency of existing wells and introducing modern technologies into hydrocarbon production processes. It was noted that several technological solutions are being studied in cooperation with international partners, with plans for gradual implementation.

A report was also presented on the expansion of geological exploration activities, identification of promising sites, and their subsequent development. In this context, steps are being taken to increase 2D and 3D seismic surveys, launch drilling operations at new sites, and organize drilling programs in line with international standards. Supervision processes, geological and hydrodynamic modeling, and project design are also being improved.

It was noted that work has already begun this year at several new fields, with further expansion of projects planned. The importance of attracting advanced international expertise in the development of hard-to-recover reserves and deep, complex wells was also emphasized.

Following the meeting, the President issued instructions to ensure production stability, efficient use of capacities, systematic organization of geological exploration and drilling activities, and strengthening financial discipline in the sector.