President Mirziyoyev Reviews Oil and Gas Sector Performance
Tashkent, The Gulf Observer: President Shavkat Mirziyoyev was briefed on ongoing measures aimed at ensuring stable production levels and enhancing financial and economic efficiency in the country’s oil and gas sector.
During the briefing, the performance of Uzbekneftegaz for the first quarter was reviewed, along with key priorities for the second quarter and overall trends in production and financial indicators.
Officials highlighted that a range of measures is being consistently implemented to stabilize production volumes, offset existing losses, and improve operational efficiency. These include the commissioning and repair of wells, as well as the adoption of advanced technological processes. Efforts are also underway to optimize costs, reduce accounts receivable, ensure efficient resource utilization, and strengthen market-based mechanisms in key areas.
Particular attention was given to enhancing well productivity and introducing modern technologies into production processes. It was noted that several innovative technological solutions are being studied in cooperation with international partners, with phased implementation planned.
The President was also briefed on initiatives to expand geological exploration, identify new prospective fields, and accelerate their development. Measures include scaling up 2D and 3D seismic surveys, launching drilling operations in new areas, aligning drilling programs with international standards, and improving supervision, geological and hydrodynamic modeling, and design processes.
Emphasizing the importance of leveraging global expertise, the leadership stressed the need to attract advanced foreign technologies and specialists for the development of hard-to-recover reserves and the drilling of deep and complex wells under medium-term programs.
Concluding the briefing, President Mirziyoyev issued directives to ensure production stability, maximize the efficient use of existing capacities, systematically organize geological exploration and drilling operations, and strengthen financial discipline across the oil and gas industry.
