The efficiency and prospects of the oil and gas industry were discussed

27.01.2018 01:54

On January 25, a meeting on efficiency of geological exploration and production activities carried out in “Uzbekneftgaz” joint stock company, the state of ensuring domestic demand for fuels and lubricants, and tasks of the industry for the future was held under the chairmanship of the President of the Republic of Uzbekistan Shavkat Mirziyoyev.

Reforms were carried out in the oil and gas industry in accordance with the Action Strategy on five priority areas of development of the Republic of Uzbekistan in 2017-2021. In particular, activities of “Uzbekneftgaz” JSC were improved by the resolution of the President of the Republic of Uzbekistan “On measures of improving the management system of the oil and gas industry” of June 30, 2017.

The Program for increasing extraction of hydrocarbon raw materials up to 2021 has been approved, mechanisms for its implementation have been determined.

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There are many underground resources in our country. A new system of their development and processing has been created. The question arises: what are the benefits of these resources for our people, emphasized the President of Uzbekistan at the meeting on efficiency of geological exploration and production activities carried out in “Uzbekneftgaz” joint stock company, held on January 25.

Fulfillment of the forecast for oil and gas condensate, and liquefied gas production was achieved in 2017. However, many problems have been accumulated in the industry over the past years.

The forecast on natural gas and oil products production for 2017 was not fulfilled due to a lack of sufficient stock growth. The forecast on the volume of drilling operations in the process of geological exploration was executed at 77 percent. Implementation of these activities at full volume would allow to ensure the stock growth. The forecast on operational drilling operations was fulfilled only by 49 percent, the forecast on the number of wells, construction of which is completed, by 53 percent.

Activity on modernization and repair of facilities for extraction of natural gas and gas transmission networks does not correspond to the required level. As a consequence, 6 percent of this resource is lost in the process of delivering produced gas to the consumer.

President Shavkat Mirziyoyev, critically analyzing these and other shortcomings, defined important tasks on increasing hydrocarbon reserves and production.

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In accordance with the State Program for geological exploration activities, 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 due to discovery of new fields, in 2018. This was noted at the meeting that was held on January 25 under the chairmanship of President Shavkat Mirziyoyev.

In the current year, it is necessary to complete construction of 255 new wells and 26 new technological facilities, and overhaul 76 wells for ensuring production of 63 billion cubic meters of natural gas, 3 million tons of oil and condensate.

JSC “Uzbekneftgaz” plans to implement 24 investment projects for 2 billion 756 million dollars. These funds will be used for implementing such projects as construction and provision with modern technologies of Jizzakh oil refinery, equipping the second stage of Kandym gas processing complex and construction of Kandym group of deposits, production of liquid synthetic fuel in Shurtan gas chemical complex, exploration of the “25 years of Independence” field in Surkhandarya and development of its feasibility study. 9 of these 24 investment projects will be implemented this year.

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At the meeting, held on January 25 under the chairmanship of President Shavkat Mirziyoyev, it was noted that more than half of investments attracted to the economy of Uzbekistan fall on the oil and gas industry and every spent dollar should yield an economic effect.

It was entrusted to revise the terms of all concluded production sharing agreements and organization of joint ventures, taking into account state interests.

Attention was paid to issues of diversification of logistics routes of the sphere, identification of transport corridors and tariffs, which guarantee a reduction in costs for importing raw materials and exporting products, saving energy resources consumption and expanding alternative energy sources.

Physical deterioration of gas distribution system and allowable losses in delivery of gas to consumers were criticized. Instructions were given on development of gas distribution systems of high and medium pressure in cooperation with foreign companies, transfer of motor vehicles to gas fuel. Importance of increasing the culture of rational use of energy resources among consumers was also noted.

Tasks were defined on development of a concept for the oil and gas industry development until 2030, acceleration of activities on identifying the credit rating of JSC “Uzbekneftgaz”.

Appropriate instructions were given on adopting necessary documents regarding the issues discussed at the meeting and timely implementation of indicated measures.

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