START OF ACTIVITIES
Since 1992, "Uzbekneftegas" JSC began its activities as a single oil and gas company, which was tasked to maximize the use of available opportunities for a significant increase in hydrocarbon production, providing them with the domestic market, deepening technological processes of oil and gas processing to obtain products with high added value, import substitution and access to export markets, creating favorable conditions for attracting foreign direct investment in the oil and gas sector. The industry has received stable legislative support with the adoption of laws "On subsoil", "On production sharing agreements", the release of the Decree of the Head of State "On measures to attract foreign direct investment in the exploration and production of oil and gas" and a number of other documents that stimulating the sphere. In the first years of activity in the new format of "Uzbekneftegas" JSC at the accelerated pace such fields as Kokdumalak, Alan, Urga, South Tandyrcha, etc. were equipped and put into operation. New promising horizons have been opened.
CHALLENGES AND PROSPECTS
Strengthening exploration is the main factor in creating a reliable resource base for the long term.
The main task is to increase the growth of industrial hydrocarbon reserves over the volume of their production.
For this purpose, the Company began to widely apply new techniques and advanced technologies for the search of oil and gas fields. The work carried out during these years confirmed the high prospects of the Bukhara-Khiva and Surkhandarya regions of the country. Rich reserves were found in Ustyurt, where large gas fields Surgil, East Berdakh, Uchsay were discovered.
Another alternative direction is the production of synthetic oil from oil shale on the basis of high-speed pyrolysis technology.
For 2015-2019, "Uzbekneftegas" JSC is expected to implement a total of 54 investment projects. Special attention is paid to attracting foreign investors in the Republic. Among the most important, we can note the investment projects implemented in cooperation with foreign companies: Gasprom and LUKOIL (Russia), CNODC (China), Petrovietnam (Vietnam), KNOC (Korea), SASOL (South Africa), Consortium of companies on the Aral project, etc.