ECONOMY AND TRADE
Oil and Gas Industry
Modern oil and gas industry of Uzbekistan is one of the largest industries of economy, the most
important energy base of the country. The industry has significant science and technology potential,
achieved certain success in its development.
For the years of Independence, Uzbekistan experienced stabilization and then dynamic development
of oil and gas industry. In 1995, Uzbekistan achieved self-sufficiency in oil and stopped import of oil.
Achieving energy self-sufficiency was carried out despite deep economic crisis in the FSU republics,
breakup of economic and trade links, increase of prices and intensification of inflation.
Sub-soils of Uzbekistan contain huge reserves of hydrocarbon resources. About 60% of the territory of
the country is prospective for oil and gas. In five oil-and-gas-bearing regions of Uzbekistan, 211 deposits
of hydrocarbon resources have been discovered: 108 – gas and gas-condensate, 103 oil-and-gas, oil-
and-gas-condensate and oil. More than 50% of deposits are under exploitation, 35% prepared for
development, others are continuing prospecting works.
Oil and gas industry of Uzbekistan, is satisfying the energy field of the country for 96% through supplies
of primary fuel resources. The annual production of hydrocarbon resources in Uzbekistan is about
86 million tons of conventional fuel. Only 25% of produced resources are exposed to refining, thus
producing 250,000 tons of liquefied gas and 125,000 tons of polyethylene.
Export potential of all produced gas today constitutes US$ 1.4 billion, creation of refining/processing
capacities into finished products (polyethylene, polypropylene and other petrochemicals) will allow to
add the value to the production and increase it 10 times.
Enterprises of oil and gas industry are united into the National Holding Company Uzbekneftegas:
It’s 6 joint stock companies: Uzgeoburneftegazodobycha (production of oil and gas), Uztransgaz
(transportation), Uznefteproduct (refining, processing), Uzneftegazmash (production of technological
equipment for the industry), Shurtan gas and chemicals complex (production of polyethylene, liquefied
gas, sulphur and sales gas).
Today, NHC Uzbekneftegas is the large multi-sector industrial and economic complex, carries out
works on search, prospecting, production, sales of oil and gas, including their derivatives, provides
construction of production facilities and social development.
Uzbekistan possesses developed refining/processing infrastructure. Farghona and Bukhoro Oil Refineries
specialize in refining/processing of oil and gas condensate. Muborak and Shurtan Gas refineries, as well
as Shurtan Gas and Chemicals Complex are engaged in processing gas.
Such world known companies as Lukoil, Gasprom (Russian Federation), CNPC (PRC), Korean National Oil
and Gas Corporation KoGas and Petronas Charigali (Malaysia) are successfully operating in the industry.