Baku, Azerbaijan, Feb. 8
By Nigar Guliyeva – Trend:
Ernst & Young (EY) international audit company has presented a preliminary report on improving operational efficiency and cost cutting at the Uzbek oil and gas enterprises.
The report was presented during the meeting between EY representatives and the management of Uzbekneftegaz JSC.
As part of the project, 75 initiatives were previously developed, of which 66 were agreed upon as a result of discussions with the corresponding departments at the enterprises.
EY representatives stressed that those initiatives are planned to be included in five main areas of optimization, namely, production process, maintenance and repair, personnel, transportation and supply.
If the initiatives are successfully implemented, the annual effect will be 102.6 billion soums (36 percent of the optimized expenditures for 2017). At the same time, the economic effect for 3 years will exceed 232 billion soums and the total cost of initiatives will be 2.02 billion soums.
The proven gas reserves reach 1.1 trillion cubic meters in Uzbekistan. Total reserves are estimated at 5 trillion cubic meters. But the level of production is not comparable with this potential. So, it amounted to only 56.4 billion cubic meters in 2017.
This year, this figure is planned to increase to 66 billion. The gas is exported to Russia, China, Kazakhstan and Kyrgyzstan.
(8,186.95 UZS= $1 on Feb. 8)
