The company "Uzbekneftegaz" plans to produce 29.3 billion cubic meters of gas this year, which is lower than previous forecasts. This information is based on the state program for 2024, Gazeta.uz reports.
The state program adopted in Uzbekistan provides for uninterrupted supply of necessary energy resources to the population and economic sectors.
To achieve this, "Uzbekneftegaz" plans to carry out a series of geological and technological measures. These include drilling 95 gas wells, restoring the operation of 81 gas wells through comprehensive major repairs, and conducting 42 technological activities.
As a result, it is planned to produce 29.3 billion cubic meters of gas. It is noteworthy that private company Sanoat Energetika Guruhi (Saneg), private oil and gas companies, and other foreign enterprises working with "Uzbekneftegaz" under the production sharing agreement (such as "Lukoil," "Gazprom," Gas Project Development Central Asia AG) are also responsible organizations for achieving this goal.
The company has not disclosed production volumes for 2023 yet; however, last year, the forecast for production was reduced from 34.1 billion to 32.8 billion cubic meters, and then to 32.3 billion cubic meters due to the "rapid depletion of current fields."
"Our forecasts for the depletion of current [fields] have not been met. They are depleting faster. Our measures [to increase production] are insufficient to maintain production at the level of 34.1 billion cubic meters," said former First Deputy Chairman of "Uzbekneftegaz" Behzod Usmanov.
In November 2022, Usmanov voiced production forecasts until 2026. According to the presented schedule, natural production from current fields will continue to decline further, as compensating for 4.6 billion cubic meters of gas through geological exploration is required to maintain production at the level of 34.1 billion cubic meters in 2024, 7.1 billion cubic meters in 2025, and 9.6 billion cubic meters in 2026.
Uzbekistan's investments in geological exploration and well drilling amount to hundreds of millions of dollars.
According to the investment program for 2023, "Uzbekneftegaz" planned to invest $100 million in geological exploration, modernization, and reconstruction in structural enterprises - $48.8 million.
Additionally, last year, it was planned to complete the program for increasing hydrocarbon production (oil and gas) in 2017-2023, with a total value of $1.15 billion, funded by Russian "Gazprombank" and the Chinese "Silk Road" fund. In the final year of this program implementation, it was planned to utilize $150 million.
Restoration and drilling of gas and oil wells jointly with Japanese MUFG were planned for $20 million, with the same amount to be spent with this company on geological exploration in investment blocks of "Uzbekneftegaz."
In the first quarter of 2024, "Uzbekneftegaz" plans to invest $117.8 million (total of $321 million for the year) in drilling and equipping wells, well repair - $12 million ($45 million for the year), construction of compressor stations at wells for $30.6 million ($200 million for 2024-2025), conducting geological exploration - $27 million ($79.6 million), construction work, modernization, and reconstruction in structural enterprises - $25 million ($118.5 million for 2024), conducting technological activities at fields - $9 million ($45 million in total).
As of August 2023, Uzbekistan has 296 oil and gas fields with confirmed gas volume of 1.85 trillion cubic meters and liquid hydrocarbons of 150.3 million tons. "Uzbekneftegaz" owns 122 fields (of which 35 are in conservation) with 933.2 billion cubic meters (50.3%) and 53.3 million tons.
As reported by the Agency of Statistics of Uzbekistan, gas production decreased by nearly 5 billion cubic meters to 46.7 billion cubic meters in 2023.
CentralasianLIGHT.org
March 18, 2024