(MENAFN- The Journal Of Turkish Weekly) Uzbekistan will increase production of hydrocarbons by 9 percent in the coming five years, the state oil and gas company said on Tuesday.
Uzbeknefetgaz announced the increase on 2014 production at the opening of an annual energy conference aimed at attracting foreign investment and modern technology.
Natural gas production will increase to 2 percent over five years. Uzbeknefetgaz produces 60 billion cubic meters of gas annually.
The state program for 2015-2019 will allow the country to raise its fuel reserves to 468.7 million tons, including 365 billion cubic meters of natural gas and 31.7 million tons of liquid hydrocarbons, Uzbekneftegas said in a statement.
The program also includes the construction of a fourth branch of the Uzbekistan-China gas pipeline, which is a part of the Turkmenistan-China gas pipeline that runs through Uzbekistan and Kazakhstan.
Uzbekistan claims to be the third biggest gas producer among former Soviet states, after Russia and Turkmenistan, and eighth largest in the world.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.