OGU is the best attended event in Uzbekistan's oil and gas sector, taking place with official support from the Cabinet of Ministers of the Republic of Uzbekistan and JSC Uzbekneftegaz. The event offers a high-level business platform for presenting the latest achievements and developments for international oil and gas companies, and is the central meeting place to network with suppliers and producers.
Brief industry overview:
- Uzbekistan is the 3rd largest producer of natural gas in the CIS, and the 8th globally
- Across Uzbekistan's five oil and gas bearing regions there are 250 open fields of raw hydrocarbon
- Uzbekneftegaz provides natural gas in volumes of around 60 billion sqm of liquid hydrocarbon - 3 million tonnes
- According to the "Concept to Develop Uzbekistan's Oil and Gas Industry by 2030", oil deposits are expected to increase by 132.4 million tonnes
From 2015-19, Uzbekneftegaz is expected to implement 54 investment projects. Uzbekistan is putting particular focus on attracting foreign investors. Among the most significant projects are those implemented jointly with foreign companies: Gazprom and Lukoil (Russia), CNODC (China), Petrovietnam (Vietnam), KNOC (South Korea), SASOL (South Africa), the Aral Sea Project Consortium and others.
In line with the memorandum on understanding (MOU) with Uzbekneftegaz, the South Korean company GS Engineering & Construction is building facilities for producing olefin from natural gas, which is used for making plastic. The cost of the project is $4.5 billion.
On 13 February 2015, Lukoil signed a contract with contractors headed by Hyundai Engineering to supply equipment and construct the Kandymsky gas plant in Uzbekistan. The plant, with a production capacity of 8.1 billion sqm per year, will process sulfurous gas from the Kandymsky group of oil fields. The plant will enable the distillation of natural gas, stable gas condensate, solid and granulated sulfur. The cost of the project is $2.66 billion.
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