Uzbekistan and Russia Explore Joint Development of Hard-to-Recover Oil and Gas Reserves

Uzbek and Russian companies are holding talks on the joint development of hard-to-recover oil and gas reserves in Uzbekistan. The discussions were held between Russian Deputy Prime Minister Alexander Novak and Uzbekistan’s Energy Minister Jurabek Mirzamakhmudov.

Figures from the Russian government show that Russia supplied 233,500 tonnes of crude oil to Uzbekistan last year. Alongside cooperation in hydrocarbon exploration and supply, both sides also discussed advancing joint projects in the field of nuclear energy.

According to the State Statistics Committee, as of early September this year, Uzbekistan’s oil production stood at 434,500 tonnes. Natural gas output reached 28.9 bn cubic metres, which is a decline compared with the previous year.

Despite lower gas production levels, the country increased fuel exports to foreign markets, generating $494.7 mln between January and August, marking a 24.1% rise year on year.