On June 14, the International Press Club (IPC) saw a regular session, which discussed the state and prospects of the oil and gas industry of Uzbekistan, as well as new projects in the petrochemical industry with foreign partners.
Chairman of the Board of NHC "Uzbekneftegaz" Alisher Sultanov, First Deputy Chairman of Uzbekneftegaz Ulugbek Sayidov, Deputy Chairman of the Board of NHC "Uzbekneftegaz" Olimjon Rustamov and Director of "Neftegazinvest" Sidiqov Bahodir were among the speakers. Representatives of structural subdivisions of the «Uzbekneftegaz», international and national companies, experts, as well as foreign media attended the meeting.
The oil and gas industry of independent Uzbekistan who turned 25 years old, is the flagship of the industry and leading sector of the economy that plays an important role in the socio-economic development of the country.
Structural transformation and large-scale investment projects have allowed Uzbekneftegaz to increase production of marketable products that meet the needs of the population, industry, transport and housing and communal services.
The adoption of the Decree of the first President of the Republic of Uzbekistan Islam Karimov on the creation of a single complex, bringing together disparate enterprises for extraction, processing and transportation of gas, oil refining and production of petroleum products marked a new history of the development of the oil and gas industry.
According to experts, a third of all mineral reserves of Central Asia are focused in Uzbekistan, while in terms of gas-production the country ranks eighth in the world.
During the years of independence, the country has done a great job on the reconstruction of existing facilities, the construction of new plants, systems and facilities, booster compressor stations, underground gas storage facilities.
Companies within the National holding company Uzbekneftegaz carried out a large-scale exploration, exploratory and production drilling of oil and gas wells, developing oil and gas fields, extraction of oil, gas and gas condensate and their processing.
NHC "Uzbekneftegaz", with more than 128 thousand specialists, is a vertically integrated, three-tier structure, which includes more than 200 companies.
Oil and gas development was facilitated by the combination of a rich resource base, technological capacity and the interest of foreign companies in cooperation. Among all foreign investment resources in Uzbekistan, a large part is channelled towards the development of oil and gas industry.
The last two decades have become significant for the NHC "Uzbekneftegaz". Major foreign investments began to flow since the early 2000-ies. Some $30.7 billion were utilised in the framework of the implementation of investment projects for 1991-2016.
The program of measures on structural reforms, modernization and diversification of production for 2015-2019 provides for the implementation of 54 investment projects worth over $18 billion.
The share of NHC "Uzbekneftegaz" in the formation of the gross domestic product of the country comprises almost a fifth of industrial production – about 15%, while in the budget – more than 20%.
Active cooperation with foreign partners and increasing inflow of foreign direct investment contributed to the fact that the oil and gas sector has become the "locomotive" of economic growth of Uzbekistan.
The implementation of major multinational project for the construction of the gas pipeline "Turkmenistan–Uzbekistan–Kazakhstan–China" provides export and transit of natural gas. The length of the Uzbek part of the pipeline is 529,7 km and its capacity is 50 billion cubic meters of gas per year.
Shurtan and Ustyurt gas-chemical complexes have become the basis for the creation of a new field of gas chemistry. Today, these complexes produce over 500 thousand tons of polyethene, 83 thousand tons of polypropylene.
The oil and gas industry of Uzbekistan is successfully implementing projects for deeper processing of hydrocarbons and producing new kinds of products, focusing on trends at the global level.
Sustainable growth, accompanied by integration in the world markets, became the basis for a new round of development of the domestic complex.
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