Reserves increase was generated due to exploration work conducted under the projects with foreign companies’ participation. As a result of seismic works 32 perspective structures were prepared for deephole drilling. About 38 new areas were introduced for preliminary drilling. As a result of exploration works 10 fields were revealed.

The source in the company emphasized that significant share of growth on hydrocarbon (about 60%) belongs to Ustyurt region in the North-West of the republic.

It was stated earlier that till the end of 2008 Uzbekneftegaz planned to prepare 25 structures for drilling, 18 put into drilling, complete the construction of 52 exploration and 75 operational wells, and also open 12 new fields, by rising gas reserves by 0.8% and liquefied hydrocarbons by no less than 9.5%.

According to Uzbekneftegaz, oil and gas sector of Uzbekistan attracted US$647.39 million of foreign direct investment in January-September (up 47.2% year-on-year) within the framework of 14 investments.

Currently, about 210 fields of hydrocarbon were opened in Uzbekistan. More than 50% of them are at development stage, 35% of these fields are prepared for development and the rest are still being explored. Forecasted perspective resources of hydrocarbon as of 1 January 2005 were 5.903 trillion of cubic meters of gas, 817.7 million tonnes of oil and 360 million tonnes of condensate.

The strategic programme of exploration works for oil and gas in regions of Uzbekistan with use of modern methodologies was developed in the industry for 2005-2020. The programme envisages hydrocarbon reserves growth in Uzbekistan during 2005-2020 and the reserves will make 1.15 billion tonnes of equivalent fuel, including 1.015 trillions of cubic meters of gas, 69.8 million tonnes of oil and 65.7 million tonnes of gas condensate.

Oil and gas condensate production at enterprises of oil-production industry of Uzbekistan in 2007 fell by 8.4% compared to 2006 down to 4.928 million tonnes, natural gas production in Uzbekistan rose by 3.9% up to 65.189 billion cubic meters.