Uzbek president sets tasks to increase hydrocarbon reserves in 2018
By Kamila Aliyeva
A meeting, which focused on the efficiency of geological exploration and production activities conducted by Uzbekneftegaz JSC, the state of ensuring domestic demand for fuels and lubricants, and the industry's tasks for the future, was held in Tashkent on January 25 under the chairmanship of Uzbek President Shavkat Mirziyoyev.
During the meeting it was noted that in 2017 the fulfillment of the forecast for oil and gas condensate production and production of liquefied gas was achieved. However, over the past years, the industry has accumulated many problems.
The forecast for natural gas production and production of oil products for 2017 was not fulfilled due to a lack of adequate growth in inventories.
The forecast for the volume of drilling operations in the process of geological exploration is 77 percent complete. Completion of these works in full volume would allow ensuring the growth of stocks.
The forecast for operational drilling operations was fulfilled only by 49 percent, the forecast for the number of wells, construction of which was completed, was 53 percent.
The president of the country, critically analyzing these and other shortcomings, identified important tasks to increase hydrocarbon reserves and production.
It was noted that in 2018 due to the discovery of new deposits in accordance with the State Program of Geological Exploration it is necessary to increase the volume of natural gas reserves by 57 billion cubic meters, oil and condensate reserves - by 3.6 million tons.
In the current year, it is necessary to complete the construction of 255 new wells and 26 new technological facilities and overhaul 76 wells in order to ensure the production of 63 billion cubic meters of natural gas, as well as 3 million tons of oil and condensate.
The physical wear of the gas distribution system and the allowable losses in the delivery of gas to consumers were criticized. Instructions are given for the development of gas distribution systems of high and medium pressure in cooperation with foreign companies, the transfer of motor vehicles to gas fuel.
Uzbekneftegaz JSC plans to implement 24 investment projects for $2.7 billion.
There are five oil and gas regions - Ustyurt, Bukhara-Khiva, Surkhandarya, Hissar, and Fergana - and three promising ones -Khorezm, Middle Syr Darya and Zarafshan- in Uzbekistan.
Russia's LUKOIL and Gazprom and China National Petroleum Corporation (CNPC) are among the most heavily invested companies in Uzbekistan's oil and natural gas industries.
Natural gas production in Uzbekistan increased by 0.5 percent in 2017 up to 56.417 billion cubic meters compared to 2016, according to the Uzbek State Statistics Committee.
At the same time, the Central Asian country reduced oil production by 6.3 percent to 806,000 tons in 2017.
The national operator for extraction and processing of hydrocarbon raw materials - Uzbekneftegaz - informed earlier that by the end of the current year the volume of natural gas production in the country could increase by 17 percent to the level of 2017, reaching a value of 66 billion cubic meters.
---
Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
Follow us on Twitter @AzerNewsAz