Uzbekistan's Uzbekneftegaz Outlines Strategic Priorities For 2025

2024-12-20 01:08:44

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, December 20. Uzbekneftegaz (Uzbekistan's oil and gas company) outlined priority tasks for 2025, Trend reports.

According to the Uzbek president's office, key directions include implementing joint projects with foreign companies, drilling new operational wells, and repairing existing ones using modern technologies.

To stabilize gas production volumes and enhance industry efficiency, the company plans to intensify geological exploration. Detailed surveys will begin at 15 promising sites, and seismic exploration will cover an expanded area of 6,500 square kilometers.

In 2025, a program for geological development and the exploration of new fields, developed with international experts, will also be launched. Uzbekneftegaz will continue its transformation to reduce production costs, improve its international credit rating, and attract foreign investments to finance new projects.

Meanwhile, Uzbekistan's natural gas production fell to 37 bcm on an annualized basis from January through October of this year. This figure is 5.1 percent less compared to the same period of 2023 (38.9 bcm in January-October 2023).

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