News about Uzbekneftegaz: events, facts and developments on tafs uz.
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The joint project of Uzbekneftegaz, SOCAR and BP to develop the oil and gas resources of Ustyurt is still at the geological exploration stage: the field has not been discovered, and drilling of the first well is planned for next year. The company clarified the details and named Ustyurt a key direction for production growth.
Otabek YusupovIn January–September 2026, Uzbekneftegaz produced about 17 billion cubic metres of gas. The company expects to reach 22.8 billion by the end of the year, which still means a decline of about 9.5% compared with 2025. The company's chief geologist explained the drop by the high depletion of reserves at large fields and spoke about measures to stabilise production.
Otabek YusupovThe company expects to reduce the average interest rate from 7.7% to 3.8%. Of the refinanced amount, $840 million relates to Uzbekistan GTL and $260 million to loans of Uzbekneftegaz itself. At the same time, the terms of 41 loans worth $384 million were revised, saving about $18 million.
Aziz KarimovOn October 20, Uzbekneftegaz held talks with a delegation of China's CNPC led by Zhou Xinhua. The parties discussed long-term supplies of petroleum products for the domestic market, expansion of cooperation in drilling and geological exploration, the opening of a CNPC representative office in Tashkent, and the response to the accident at the M-25 field, where relief wells are planned to be drilled.
Sevara AzamovaChairman of the Board of JSC Uzbekneftegaz Abdugani Sanginov held a meeting with a CNPC delegation led by its president Zhou Xinghuai. The parties discussed expanding oil and gas cooperation, projects of the companies Xibu, BGP, CCDC and CNLC, drilling relief wells at the M-25 field, diversification of petroleum product supplies, opening a CNPC representative office in Tashkent, and support for the branch of the Gubkin University.
Javlon TursunovUzbekistan's Agency for State Asset Management announced the start of the preparatory stage of privatization of the Uzbekistan GTL plant, built at a cost of $3.42 billion, and is considering an IPO, which international investors have shown interest in. The company's financial indicators were not disclosed at the press conference. According to the plant's website, as of June 16, 2026, the remaining principal debt on loans was $838.2 million.
Nilufar KarimovaDirector of the State Assets Management Agency (SAMA) Sohibjon Murodov said on October 8 that Saneg's licenses for the use of oil fields have been revoked because the fields were not put into operation and the license conditions were not met. He did not specify the number of revoked licenses. The transfer of more than 100 fields to the company in 2019 is linked to the criminal case against the former head of Uzbekneftegaz, Bakhodirzhon Sidikov, who rejects the charges.
Dilnoza RahimovaA new gas condensate field named “Borisoy” has been discovered in Shurtan, Guzar district of the Kashkadarya region. During well testing, specialists obtained a commercial inflow of gas and condensate of 300–400 thousand cubic meters per day, Uzbekneftegaz reports. Exploratory drilling began on August 5 by Uzneftburgilash ishlari; the well was drilled to a depth of 3,159 meters, and tests showed hydrocarbon inflow from carbonate deposits at 2,842–3,001 meters. Specialists are now studying the productive layers and assessing the field’s potential. After testing, the gas is planned to be processed and supplied to consumers from October 15. A second exploratory well is planned by year-end to further study the field’s geology and hydrocarbon potential.
Dilnoza Rahimova
