Gas reserves will be increased: geological exploration work will be expanded fivefold

President Shavkat Mirziyoyev was briefed on major projects being implemented in the oil and gas sector, natural gas production indicators, and work planned to be completed by the end of the year.

 

The presentation discussed the implementation of two resolutions aimed at improving the activities of "Uzbekneftgaz" JSC, addressing issues related to procurement and production this year.

 

It was noted that geological exploration work is being expanded to increase gas reserves. This year, the volume of 3D seismic exploration work is planned to be increased 5-fold compared to last year. Since the beginning of the year, 5 new gas fields have been discovered, and 80 wells have been drilled at depths of 6,000 meters and more in the regions. In the fourth quarter, another 40 wells are planned to be drilled.

 

Plans were also presented for studying promising areas, particularly deep-lying layers of Ustyurt, developing new fields, and improving the efficiency of existing wells. In this direction, new wells are being drilled jointly with foreign partners, geophysical data is being re-analyzed, and projects aimed at improving gas production efficiency are being implemented.

 

The presentation also analyzed the financial results of "Uzbekneftgaz" and its major enterprises. In the nine months of this year, the consolidated net profit of the enterprises increased compared to the same period last year. Due to optimizing the credit portfolio, debt has decreased, and by revising the terms of high-interest loans, interest expenses have been saved.

 

Within the framework of projects aimed at increasing the throughput capacity of the gas transportation system, the construction of new main gas pipelines and modernization of compressor stations is planned.

 

The commissioning of modern electric motors at certain stations will increase the stability of gas supply and allow saving 125 million cubic meters of gas per year.

 

Additionally, the work to eliminate the accident that occurred at the "25th Anniversary of Independence" field was discussed. A specialized Chinese company has been involved in the process. Currently, special machinery and equipment are being mobilized to the work site, and preparatory work is being carried out at the well drilling sites. It was emphasized that safety requirements must be strictly observed at all stages of eliminating the accident.

 

The issues of developing and financially rehabilitating the Fergana oil refinery were also considered. After the main technological units were repaired, diesel fuel production at the plant increased by 30 percent, bitumen by 60 percent, and aviation kerosene production by 5-fold.

 

In the future, measures will be taken to ensure a stable supply of raw materials to the plant, effectively utilize existing capacities, and reduce debt. By the end of the year, it is planned to increase the plant's workload from 40 percent to 65 percent, and subsequently further increase this indicator.

 

The President gave relevant instructions to responsible officials on improving the efficiency of geological exploration and drilling work, implementing major projects based on thorough calculations and clear financing sources, and ensuring efficiency in the activities of sector enterprises.