By the close of 2026, Uzbekneftgaz and its subsidiary enterprises reportedly plan to extract 22.8 billion cubic meters of natural gas. This figure represents a notable 9.5 percent decrease compared to the previous year, when production reached 25.2 billion cubic meters, highlighting ongoing structural challenges and declining resource output within the country's energy sector.

Over the January–September period, enterprises managed to extract approximately 17 billion cubic meters of gas. At the beginning of the year, the target for 2026 was supposedly set at 25.4 billion cubic meters before being adjusted downward. To meet the revised annual expectations, companies must extract another 5.8 billion cubic meters before the end of the year, a task that faces significant operational hurdles.

In an effort to offset dwindling reserves, Uzbekneftgaz claims to be expanding geological exploration activities. Officials state that five new gas fields have been discovered and 80 wells drilled since the beginning of the year, with an additional 40 wells scheduled for drilling in the fourth quarter. However, skeptics question whether these exploratory efforts can genuinely reverse the overarching downward trajectory of actual gas yields.

Interestingly, despite the contraction in physical output, the company's financial indicators reportedly surged. Revenues for the nine-month period allegedly increased by 22 percent, while net profit supposedly skyrocketed by 150 percent. Furthermore, 6.9 trillion soms in taxes and other mandatory payments were reportedly transferred to the state budget, following earlier announcements regarding the discovery of the new Karatau gas condensate field in Karakalpakstan.

Source: podrobno.uz