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NEWS

Uzbekistan to Double Hydrocarbon Reserves by 2030

17 May 2012

http://www.turkishweekly.net of 5/17/2012 - National Holding Company (NHC) Uzbekneftegaz plans to increase hydrocarbon reserves by 2.2 times - up to 5.6 billion tons of standard fuel by 2030. It is specified in the materials of the exhibition "Oil and Gas Uzbekistan - OGU 2012", held in Tashkent.
According to the concept of development of oil and gas industry of Uzbekistan until 2030, the annual increase in stocks of raw materials is required in the amount which will be exceeding its exploration by 1.1-1.5 times to establish a reliable source of raw materials and maintenance of gas production in this period, chief Geologist of the holding Mutalib Nurmatov said.
It is planned to increase volume of natural gas reserves by 2.393 trillion cubic meters, of oil - 132.4 million tons, of condensate - 102.6 million tons until 2030, experts of NHC said.
It is planned to implement 2D seismic operations in the amount of 296.6 thousand linear kilometers, 3D - 80,2 thousand square kilometers, prospecting, exploration and parametric drilling - 5.88 million meters to achieve these goals by 2030.
The analysis shows that development on the main productive complexes in all the regions, except for the Bukhara-Khiva region, does not exceed 35.5 percent. So they are the main targets for the placement of the volume of exploration in the future," the publication says.
The main volumes of geological exploration for oil and gas are concentrated in the oil and gas regions, and in the most promising areas within them. In particular, exploration of layers lying below will be activated at Ustyurt, Bukhara, Khiva and Fergana oil and gas regions.
Program of exploration work on prospecting and exploration of deposits of heavy oil and bitumen in the range Korsagly-zone Dasmanaginskoy Surkhandarya region is implemented now to increase production of oil.
In addition, exploration program on prospecting and exploration of deposits of heavy oil within the area Besharcha (southern part of the ridge Babatag) Surkhandarya region and a similar program within the Fergana region are in the development stage.
In order to intensify exploration and increase the rate of hydrocarbon reserves Uzbekistan identified 48 investment blocks, including two units - in potentially oil and gas bearing Middle Syrdarya region. On the 18 units licenses have been issued to foreign investors, on two - Uzbekneftegaz conducts joint exploration with foreign investors, eight - talks are underway with foreign investors to conduct exploration work, and on eight exploration blocks Uzbekneftegaz carries out work.
According to the holding, the amount of recoverable proven hydrocarbon reserves of industrial categories, as of January 1, 2012, amounted to more than 2.5 billion tons of oil equivalent, of which about 65 percent is natural gas reserves.
Explored recoverable reserves of hydrocarbons ensure Uzbekistan's need with the current rate of production of natural gas - for 32 years and oil and condensate - for 33 years.
Uzbekistan has recoverable resources - about eight billion tons of equivalent fuel, and geological - about 2 billion tons, as well as preliminary reserves of oil, gas and condensate in the volume of more than 0.5 billion tons of equivalent fuel.
As of early 2012 Uzbekistan discovered 242 fields of hydrocarbons, of which 192 - gas. Of the newly discovered fields, 104 are under development, 66 prepared for development, exploration is still at 72 fields.
The capacity of the Uzbekistan allows providing natural gas production in the volume of 70 billion cubic meters of gas and 8 million tons of liquid hydrocarbons per year.
Uzbekistan currently ranks third among the CIS countries and twelfth in the world in terms of the annual natural gas production.
According to official statistics, in 2011 oil production in the country dropped by 5.8 percent compared to 2010 and amounted to 1.889 million tons, gas condensate - by 9.8 percent - to 1.696 million tons, natural gas production decreased by 4.4 percent - to 63.04 billion cubic meters.