BAKU, Azerbaijan, May 1. Saneg, Uzbekistan's largest private oil and gas business, will invest around $350 million (excluding VAT) in a project on capacity utilization and upgrading of the Fergana Oil Refinery in the coming years, a company insider told Trend.
According to the source, Saneg is implementing the project at the Fergana Oil Refinery by 2025. The project envisages a significant increase in processing depth, from the current 84 percent to 93 percent and higher.
"In addition, the range of manufactured petroleum products and their quality will be expanded to meet the highest international standards (including the production of gasoline not lower than RON-92 and diesel fuel meeting Euro-5 standards, as well as other high-margin products),” the source noted.
The source from the company added that the Fergana Oil Refinery will reach a processing volume of 2 million tons by 2024 and plans to increase this figure to 4 million tons by 2030.
Meanwhile, Saneg has started deliveries of SEG Motol Diesel 10W-40 and API CI-4/SL synthetic and semi-synthetic oils to Uzbekistan.
The synthetic and semi-synthetic oils are manufactured at Saneg's Italian plant in Bari.
Saneg (Sanoat Energetika Guruhi) is one of Uzbekistan's largest vertically integrated oil and gas businesses, producing 80 percent of the country's oil output from 103 fields (tons of oil per day). Saneg is the executor of Uzbekistan's national strategy to boost oil production, which puts the country on pace to produce up to 2 million tons per year by 2030.
