Uzbekistan expecting significant growth in oil, gas output until 2022

Oil&Gas Materials 17 May 2017 17:21 (UTC +04:00)

Tashkent, Uzbekistan, May 17

By Demir Azizov – Trend:

The total increase in natural gas production will be 53.5 billion cubic meters, gas condensate – 1.1 million tons, oil – 1.9 million tons in Uzbekistan in 2017-2021, according to the data of the Uzbekneftegaz National Holding Company, made public at the Uzbekistan International Global Oil & Gas (OGU) Exhibition & Conference.

The exhibition opened in Tashkent on May 17.

According to Uzbekneftegaz, the program to increase hydrocarbon production during the next five years has been approved by a special resolution of Uzbekistan’s President Shavkat Mirziyoyev.

The volume of investments for the program’s implementation will total $3.9 billion.

The capacity of Uzbekneftegaz currently allows ensuring natural gas production in the volume of about 70 billion cubic meters and liquid hydrocarbons in the volume of eight million tons per year.

As it was previously reported, Uzbekistan decreased the production of liquid hydrocarbons by 11.6 percent – to 3.165 million tons in 2012 as compared to 2011. Meanwhile, oil production decreased by 17.4 percent – to 1.561 million tons, gas condensate – by 5.6 percent – to 1.604 million tons.

The data on Uzbekistan’s hydrocarbon production hasn’t been made public since 2013.