Progress in the oil and gas sector reviewed
President Shavkat Mirziyoyev was briefed on measures being implemented to ensure stable production indicators and improve financial and economic efficiency in the oil and gas industry.
The results of operations of the joint-stock company Uzbekneftegaz for the first quarter, key priorities for the second quarter, and trends in production and financial performance were reviewed.
Measures to stabilize production volumes, compensate for existing losses, commission and repair wells, and conduct other technological activities are being consistently implemented. Alongside this, work is underway to optimize expenses, reduce accounts receivable, ensure the efficient use of resources, and improve market mechanisms in specific areas.
Special attention was given to improving well efficiency and introducing modern technologies into the production process. It was noted that several technological solutions are being jointly studied with international companies, with phased implementation planned.
A report was also presented on efforts to expand geological exploration, identify new prospective areas, and advance their development.
In particular, measures are being taken to expand 2D and 3D seismic surveys, launch drilling operations in new areas, organize drilling programs in line with international requirements, and improve supervision, geological and hydrodynamic modeling, and design processes.
The importance of attracting advanced foreign expertise to develop hard-to-recover reserves and drill deep, complex wells as part of medium-term programs was emphasized.
The President issued instructions to ensure production stability, the effective use of existing capacities, the systematic organization of geological exploration, drilling, and repair operations, and the strengthening of financial discipline in the oil and gas sector.
UzA
