President Shavkat Mirziyoyev at a government meeting reviewed a presentation on improving the efficiency of Uzbekneftegaz Friday. This is the second meeting on this subject in a month: the previous meeting took place on January 12.
The company has been given directives to significantly improve performance and implementing modern approaches in the industry.
Uzbekneftegaz produced 25.2 BCMs of natural gas in 2025, 1.3 BCMs less than the forecast (26.5 billion).
In 2022, the company's production forecast was 34 BCMs, while the actual production stood at 32.2 BCMs.
Uzbekneftegaz lowered its natural gas production forecast for 2023 from 34.1 billion to 32.3 BCMs.
As per the state program, the 2024 target was 29.3 BCMs of gas.
Furthermore, 56 new wells were drilled and 29 wells underwent major workovers.
The presentation outlined that for 2026–2027, it is planned to ensure stable natural gas production volumes, as well as implement more than 300 geological and technical operations.
The presentation set the priority goals necessary to achieve these targets. In particular, the emphasis will be placed on improving efficiency of geological exploration and geological and technical operations, increase reserves and ensure production stability, and improve procurement procedures.
Furthermore, steps are planned to create a value chain through advanced gas processing, the production of import-substituting and export-oriented products, and the financial recovery of the company and its enterprises.
Uzbekneftegaz's priority will be improving operational efficiency, including ensuring financial stability through the divestment of non-core assets, the termination of sponsorship payments, and cost optimization.
Key areas also include digitalization of production processes, the implementation of artificial intelligence technologies, strengthening internal controls and compliance systems, oversight of financial asset flows, and the prevention of corruption and conflicts of interest.
At the previous meeting on January 12, the president gave directives to Uzbekneftegaz to take steps to increase daily gas production from 66 to 70 million cubic meters and to ensure production of at least 25.4 BCMs of gas by 2026.
On January 27, the head of state announced a large-scale checks at the State Assets Management Agency and Uzbekneftegaz, which uncovered embezzlement worth billions of soums by the State Security Service and the Compliance Service.
