Uzbekistan's oil and gas sector has entered a new stage of transformation. AO Uzbekneftegaz has announced interim results from the state program "100 Days of Action," achieving an additional economic effect of 1.1 trillion som (approximately $92 million) over 50 days through cost optimization, according to Mumin Ibodov, head of the company's information service, Uza.uz reports.
The program's key priority is directing funds toward geological exploration and production. Planned activities for 2026 include:
- 6,500 sq. km of 3D seismic surveys (2.5 times more than in 2025);
- Drilling of 103 wells, including 58 exploration and appraisal wells;
- Permits secured for 20 investment blocks;
- Ongoing negotiations to procure 12 drilling rigs and new seismic equipment.
The company is implementing systematic measures to reduce expenses:
- Savings of 766 billion som achieved through direct negotiations with suppliers and recovery of accounts receivable;
- Divestment of non-core assets reduced costs by 3 billion som in two months;
- Optimization of construction and drilling projects saved 154 billion som.
The full-year savings forecast stands at 2.5 trillion som.
At the corporate headquarters, staff numbers have been optimized from 875 to 610 positions by consolidating overlapping functions. Meanwhile, digitalization of operational processes is expected to create approximately 700 new jobs.
Employee support remains a priority: planned measures include salary increases, improved meal services, procurement of buses, and construction of social facilities at production sites.
During the reporting period, production targets were exceeded across key product categories:
- Processed natural gas: 2.276 billion m³ (109.4% of plan);
- Gas condensate: 78,200 tons (109.1%);
- Liquefied gas: 85,700 tons (108.2%);
- Sulfur: 28,000 tons (124%);
- Polyethylene: 21,000 tons (104.2%).
At the Uzbekistan GTL plant, synthetic fuel output increased by 318% (+33,000 tons year-on-year).
The results achieved confirm that the "100 Days of Action" program combines tactical financial stabilization measures with long-term reforms aimed at technological modernization and sustainable development of Uzbekistan's oil and gas sector.
CentralasianLIGHT.org
February 27, 2026