At a recent meeting held at JSC Uzbekneftegaz, the progress in implementing the priority tasks set by the Head of State was analyzed, along with the restoration of the company’s operations, stabilization of natural gas production volumes, and an increase in industrial output.

Over the past four years, natural gas production volumes have declined by 21.7 percent. This was attributed to the lack of strategic planning and an excessive focus on day-to-day tasks. Therefore, it was emphasized that it is necessary to clearly determine the level of economic efficiency and profitability of each field.

According to the company’s information service, despite significant funds allocated this year for geological exploration and technical work, production has not grown, and a 5-6 percent decline in production rates has negatively impacted the output of other products as well.

At present, the gas extracted by JSC Uzbekneftegaz is supplied to the next stage at a price below cost. This adversely affects the company’s financial stability and increases external debt.

Following the meeting, specific proposals and initiatives to address the sector’s challenges, ensure the sustainable development of natural gas production, and increase reserves were discussed. Based on these proposals, a comprehensive action plan to develop the industry was approved.

Nasiba Ziyodullayeva, UzA