President Shavkat Mirziyoyev reviewed in detail a presentation outlining the strategic priorities and key objectives of Uzbekneftegaz Joint Stock Company for the current year. According to the press service of the Head of State, the agenda focused not only on intensifying hydrocarbon production, but also on a comprehensive transformation of management processes within the national oil and gas operator.
A core priority for the state-owned company has been defined as a significant expansion of its mineral resource base. Sector leadership has been tasked with increasing natural gas reserves and ensuring stable supplies to consumers. Under the announced targets, daily gas production is set to rise from the current 66 million to 70 million cubic meters.
Achieving this benchmark will enable annual gas output to reach at least 25.4 billion cubic meters, a figure considered critical for maintaining the country’s energy balance in 2026. Authorities emphasized that meeting these parameters is essential amid growing domestic demand.
To deliver these ambitious goals, a comprehensive set of geological and technical measures has been planned. In particular, new prospective investment blocks will be formed, expanding the geographical scope of hydrocarbon exploration. At the same time, activity will be intensified at existing fields transferred to foreign and domestic investors.
Special emphasis will be placed on improving subsoil utilization efficiency and reducing the time required to bring new wells into commercial operation. Optimization of technological processes is expected to accelerate returns from investment projects and enhance overall production efficiency.
The presentation also devoted special attention to issues of deep processing of raw materials. Current analysis indicates that existing naphtha production capacities are utilized at only 70%. The situation is further complicated by external market conditions, as prices for exported naphtha have fallen by nearly 50%, making direct exports economically unattractive.
In response, the President instructed that 100% utilization of processing facilities be ensured. The strategic focus is shifting from raw material exports toward the production of goods with higher added value. Instead of exporting raw naphtha, the sector is expected to prioritize its conversion into polymers.
According to expert estimates, this approach could increase value creation by up to six times, significantly strengthening Uzbekistan’s export potential and enhancing the competitiveness of its petrochemical products.
Financial recovery of Uzbekneftegaz was another critical issue raised during the discussion. The Head of State underscored the need for strict financial discipline and the eradication of corrupt practices that continue to hinder the development of the oil and gas sector.
In response, the company’s governance structure has been revised. A dedicated position of Deputy Chairman has been introduced, with exclusive responsibility for preventing corruption risks. In addition, a specialized compliance and internal anti-corruption control unit has been established.
The new structure is tasked not only with identifying violations, but with building an effective system for the early detection and prevention of any breaches of the law. This approach aims to improve transparency and strengthen confidence in corporate governance.
The current year is expected to become a turning point for the industry. Rather than relying solely on extensive growth in production volumes, the sector is now required to undergo deep transformation—encompassing extraction technologies, processing capacity, and corporate management culture.