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Uzbekistan reports increase in oil production

Oil&Gas Materials 22 January 2021 11:52
Uzbekistan reports increase in oil production

BAKU, Azerbaijan, Jan. 22

By Klavdiya Romakayeva - Trend:

The volume of oil production in Uzbekistan in 2020 increased by 4.9 percent, reaching 733,600 tons, Trend reports referring to the State Statistics Committee of Uzbekistan.

According to the report of the committee, production of natural gas in Uzbekistan in 2020 decreased by 17.8 percent and reached 49.7 billion cubic meters.

At the same time, the production of gas condensate in the country at the end of 2020 amounted to 1.4 million tons, increasing by 1.33 times.

In addition, the production of gasoline in Uzbekistan at the end of last year amounted to 1.016 million tons (decrease of 0.9 percent compared to 2019), diesel fuel – 933,100 tons (9.6 percent).

It was noted that the capacities of Uzbekneftegaz make it possible to ensure the production of natural gas in the amount of about 70 billion cubic meters and liquid hydrocarbons in the amount of eight million tons per year. However, due to depletion of reserves and technological losses, hydrocarbon production has dropped significantly over the past 15 years.

Earlier it was reported that the Ministry of Finance and Uzbekneftegaz JSC were instructed to ensure the attraction of the necessary funds by June 1, 2020.

According to Uzbekneftegaz, Uzbekistan needs to attract $250 million in loans from the Silk Road Fund (China) and foreign commercial banks as part of the program to increase the production of hydrocarbons. At the same time, it is necessary to realize $400 million at the expense of export credit agencies.

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