Oil and gas

The oil and gas sector remains a cornerstone of Uzbekistan’s economy, contributing significantly to fiscal revenues, export earnings, and employment, while serving as a critical input provider for other sectors. The sector is primarily overseen by the state-owned enterprise Uzbekneftegaz, which plays a central role in domestic production. International participation is structured largely through production sharing agreements (PSAs) with the state.
Uzbekneftegaz is the principal natural gas producer in Uzbekistan, responsible for approximately 60% of the country’s total gas output. The company plays a critical role in the national economy, contributing an estimated 3.5% to GDP. It oversees the development and operation of 129 hydrocarbon fields, which collectively contain around 50% of Uzbekistan’s proven reserves. In addition to upstream activities, Uzbekneftegaz maintains an integrated refining and marketing platform, with a total processing capacity of 6.7 million tons per year, supporting downstream diversification and value addition within the sector.