Azernews.Az

By Aynur Jafarova

Uzbekistan plans to increase the production of liquid hydrocarbon and natural gas by 2020.

Liquid hydrocarbon is planned to reach 3.5 million tons and natural gas to reach 66 billion cubic meters.

The news was announced by Shokir Faizullayev, the chairman of the Board of Uzbekneftegaz National Holding Company, at the international oil and gas conference on May 14, Trend Agency reported.

Faizullayev noted this plan is envisaged in the country's program for development of oil and gas industry in 2013-2020.

Annual gas exports will increase by 20 percent by 2020 as a result of energy and gas saving in the country. Also, up to seven percent decrease is expected in the annual natural gas consumption by 2020, compared to 2013.

Nevertheless, natural gas consumption by the population will remain at a similar level with 2013.

The program for development of oil and gas industry expects an increase in the volume of equivalent fuel by 622.8 million tons, natural gas by 485.5 billion cubic meters, and liquid hydrocarbons by 41.7 million tons by 2020.

Official statistical data shows Uzbekistan produced 3.165 million tons of liquid hydrocarbons (oil, including gas condensate) and 62.911 billion cubic meters of gas in 2013.

The production of liquid hydrocarbon and gas is expected to increase by 10 and five percent by 2020.

The total volume of natural gas export amounted to about 13 billion cubic meters in 2013, Faizullayev said.

The program also envisages an increase in the production of oil products by more than 1.3 times by 2020, as well as through local oil and condensate processing, use of shale oil, import of raw materials, and use of additional domestic sources compared to 2013.

As of January 1, 2014, recoverable hydrocarbon reserves amounted to more than 2.5 billion tons of fuel equivalent, about 65 percent of which fall to natural gas reserves in Uzbekistan.

Uzbekistan is rich in hydrocarbon resources, and about 60 percent of its territory possesses potential oil and gas reserves. Uzbekistan ranks third among the countries of the Commonwealth of Independent States (CIS), and fifteenth among the countries of the world in terms of annual natural gas production.

The projected reserves of hydrocarbons are about 10 billion tons of standard fuel, while prospective ones amount to about 2 billion tons.

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.