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Forecast for hydrocarbon production in Uzbekistan by 2020 announced

14 May 2015

The annual production of hydrocarbons in Uzbekistan will increase by 1.9 percent in 2019, compared to 2014, while the natural gas production will increase by 2 percent, according to the materials of Uzbekneftegaz national holding company.

The materials were made public during Uzbekistan International Oil & Gas Exhibition 2015 that opened in Tashkent May 12.

The data about the hydrocarbon production volume in Uzbekistan hasn’t been published in the past two years.

Uzbekistan reduced the oil production by 7.1 percent and brought it to 2.9 million metric tons in 2013, while the gas production was lowered by 2.6 and stood at 55.2 billion cubic meters, according to British company BP.

A program for development of Uzbekistan’s oil and gas industry for 2015-2019 has been worked out and submitted to the country’s leadership, according to Uzbekneftegaz.

The implementation of the program will ensure 468.7 million metric tons of increase in oil equivalent, including 365 billion cubic meters of increase in natural gas reserve, according to the materials of Uzbekneftegaz.

The capacity of Uzbekneftegaz currently allows producing around 70 billion cubic meters of natural gas and 8 million metric tons of liquid hydrocarbons per year.

Recoverable proven hydrocarbon reserve of Uzbekistan exceeded 2.5 billion metric tons of oil equivalent as of early 2015 and around 65 percent of this volume accounted for gas reserve.