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PRESIDENT DEFINED IMPORTANT TASKS ON INCREASING HYDROCARBON RESERVES AND PRODUCTION

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PRESIDENT DEFINED IMPORTANT TASKS ON INCREASING HYDROCARBON RESERVES AND PRODUCTION

There are many underground resources in our country. A new system of their development and processing has been created. The question arises: what are the benefits of these resources for our people, emphasized the President of Uzbekistan at the meeting on efficiency of geological exploration and production activities carried out in “Uzbekneftgaz” joint stock company, held on January 25.

Fulfillment of the forecast for oil and gas condensate, and liquefied gas production was achieved in 2017. However, many problems have been accumulated in the industry over the past years.

The forecast on natural gas and oil products production for 2017 was not fulfilled due to a lack of sufficient stock growth. The forecast on the volume of drilling operations in the process of geological exploration was executed at 77 percent. Implementation of these activities at full volume would allow to ensure the stock growth. The forecast on operational drilling operations was fulfilled only by 49 percent, the forecast on the number of wells, construction of which is completed, by 53 percent.

Activity on modernization and repair of facilities for extraction of natural gas and gas transmission networks does not correspond to the required level. As a consequence, 6 percent of this resource is lost in the process of delivering produced gas to the consumer.

President Shavkat Mirziyoyev, critically analyzing these and other shortcomings, defined important tasks on increasing hydrocarbon reserves and production.

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