23.02.2026

President Shavkat Mirziyoyev was briefed on the progress in implementing earlier instructions aimed at improving the operational efficiency of the joint-stock company Uzbekneftegaz.

At a presentation held on January 30, specific tasks were set to enhance the company’s operational efficiency, ensure its financial stability, expand geological exploration and increase hydrocarbon reserves.

Today, the Head of state was presented with updated information on the implementation of these tasks.

First and foremost, a report was made on the measures being taken to optimize expenses. In particular, the organizational structure of the company's central administration is being reviewed and optimized. Work has begun on reviewing prices for industrial services, goods, and materials, as well as contract work, and the loan portfolio is being streamlined. Non-core assets are being divested.

It was noted that systematic efforts have been put in place to reduce accounts receivable.

The issues of expanding geological exploration and increasing hydrocarbon reserves were discussed. In particular, in 2026–2027 it is planned to intensify exploration work in new areas across several regions, expand the volume of 3D seismic surveys, and complete well construction. It was also reported that two new gas condensate fields were discovered in January–February of this year.

As part of the company’s strategic development, plans are in place to accelerate the forensic audit, enhance procurement procedures, implement ESG principles, and prepare reports in accordance with international standards.

The President instructed the responsible officials to ensure the implementation of the outlined tasks and measures based on precise calculations, strict discipline, and personal accountability.