The President of Uzbekistan, Shavkat Mirziyoyev, reviewed a presentation dedicated to major projects in the oil and gas sector, the implementation of previously adopted decisions, and plans to increase gas production and improve enterprise efficiency.
Two decrees were approved this year aimed at improving the operations of JSC Uzbekneftegaz and resolving issues related to procurement and production. The presentation reported on the implementation of these decisions, natural gas production indicators, and measures planned until the end of the year.
One of the priority areas remains the expansion of geological exploration to increase gas reserves. It is planned that by 2026, the volume of three-dimensional seismic surveys will increase fivefold compared to last year.
Since the beginning of the year, five new gas fields have been discovered in the country. A total of 80 wells have been drilled in the regions, including deep wells over 6000 meters deep. Furthermore, drilling of another 40 wells is planned for the fourth quarter.
The prospect of developing new areas, primarily deep formations in Ustyurt, as well as developing existing fields and increasing the efficiency of operating wells, was also considered. This will require further improvement of drilling operations and the introduction of modern technologies. In Ustyurt, projects are being implemented in collaboration with foreign partners for drilling new wells, reanalyzing geophysical data, and increasing the efficiency of natural gas production.
A separate section of the presentation was devoted to the financial results of JSC Uzbekneftegaz and its main enterprises. Over the first nine months, cumulative net profit increased compared to the same period last year. By optimizing the credit portfolio, the debt burden was reduced, and the revision of high-interest loan terms contributed to decreasing debt servicing costs.
Projects aimed at increasing the capacity of the gas transmission system were presented. These include the construction of new main gas pipelines and the modernization of compressor stations. It is expected that the implementation of these projects, including the use of modern electric motors at some stations, will improve supply stability and allow for savings of up to 125 million cubic meters of natural gas annually. Funding sources for these projects were also discussed.
Special attention was paid to eliminating the accident at the '25 Years of Independence' field. A specialized Chinese company has been engaged to carry out the work. Special equipment and machinery are being delivered to the site, and drilling sites are being prepared. Particular attention is being paid to adhering to safety requirements in all operations to prevent similar incidents.
The presentation also highlighted the results of efforts to increase production and restore the financial condition of the Fergana Oil Refinery. After repairing the main technological units, diesel fuel production at the plant increased by 30%, bitumen production by 60%, and aviation kerosene production fivefold.
Additional steps are being taken to improve the efficiency of the Fergana Refinery, such as ensuring stable raw material supplies, more effective utilization of existing capacities, and reducing debt. By the end of the year, the plant's utilization rate is planned to be raised from 40% to 65%, after which further growth in this indicator is expected.
At the conclusion of the presentation, the head of state instructed responsible officials to enhance the effectiveness of geological exploration and drilling operations, ensure the implementation of key projects based on detailed calculations and identified funding sources, and improve the work of the oil and gas sector enterprises.