Uzbekneftgaz’s Gas Production Target Declines Again

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Uzbekistan’s state-owned JSC Uzbekneftegaz plans to produce 29.3 billion cubic meters of natural gas in 2024, according to the Kun.uz website. The company’s gas-production metrics have shown declines for the past three years.

Among the geological and technical scopes of work that lie ahead for Uzbekneftgaz are 42 technological measurements, comprehensive overhauls of 81 wells, and the drilling of 95 operational production wells.

In 2021 and 2022 the company produced 33.9 billion and 32.2 billion cubic meters of natural gas respectively. That means that by the end of 2024 the company will have decreased gas production by 13.6 percent over just three years, considering the production target of 29.3 billion cubic meters this year.

Although official figures for 2023 have not yet been released, Uzbekneftgaz in 2023 twice lowered its full-year 2023 forecast for natural gas production. Initially, at the end of 2022 representatives of the company said that they expected 34.1 billion cubic meters of gas production for 2023, with 1.8 billion of those cubic meters coming from geological exploration. However, the estimate was lowered to 32.8 billion cubic meters in February 2023 and 32.3 billion cubic meters in August of last year.

According to Uzbek statistics, 53.8 billion cubic meters of gas were extracted in 2021 across the country, which then decreased to 51.7 billion cubic meters in 2022, and 46.7 billion cubic meters in 2023.

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Times of Central Asia