BAKU, Azerbaijan, October 2. A project implemented in partnership with SOCAR aims to expand Uzbekistan’s energy sector by producing not only gas but also oil, said Bahodirjon Sidikov, chairman of Uzbekneftegaz, Trend reports.
Speaking at the opening of the KAZENERGY Eurasian Forum in Astana, Sidikov emphasized that despite Uzbekistan's historical deficiency in substantial hydrocarbon reserves, the petroleum sector has consistently been a pivotal component of the national economic framework. Hydrocarbon and refined petroleum derivatives imports continue to constitute a significant segment of the nation’s import portfolio.
“Now, in the Ustyurt region, we are beginning to see real potential for extracting liquid hydrocarbons. Oil has always been the foundation of the energy transition: first oil, then gas, and later other sources. This is why we continue to seriously consider oil projects,” Sidikov said.
He also emphasized technological progress, noting that the average well depth in Ustyurt reaches around 5,000 meters.
“Two years ago, drilling a well of this depth would have taken nearly a year, around 300 days. Today, thanks to modern technology, new equipment, and knowledge sharing with our partners, the same task is completed in just two months. This fundamental change means new fields can be brought online much faster than before. This speed is one of our key advantages under current conditions,” he added.
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