Tashkent, Uzbekistan (UzDaily.com) -- Saneg is increasing oil production. If in 2020, when the company began its operating activities, 498.4 thousand tons of liquid hydrocarbons were produced, then the result for 2023 was 594.6 thousand tons. Plans for 2024 include increasing production by another 20% – up to 711.8 thousand tons of oil.

And, as the results of the first quarter of this year show, these plans are achievable.

A number of fields in Uzbekistan were transferred to Saneg in December 2019. At the time of acceptance of the fields, the average daily oil production was no more than 1200 tons/day. To date, through the efforts of the team of the group of companies, it has been possible not only to increase oil production to 1,800 tons/day, but also to compensate for losses associated with the rate of natural decline in production of 28% per annum, determined by the trend of previous years.

In 2023 alone, 46 new wells were put into operation at fields managed by Saneg after drilling. Geological and technical measures were carried out at another 248 wells located from Andijan to Ustyurt.

In addition, it is necessary to note the individual achievements of last year in terms of a multiple increase in oil production at such fields as: Chegara (9-fold increase in production), Sardob (15-fold increase in production), Yangi Karatepa (38-fold increase), as well as Northern Urtabulak, Sharkiy, Gharbiy Toshli and Khojaobad.

Saneg’s plans to increase oil refining are also being implemented. Thus, the Fergana Oil Refinery (ORP), which is the company’s flagship asset, will begin processing 2 million tons of raw materials by the end of this year. The indicator for the first quarter amounted to 312.1 thousand tons.

At the same time, initially such a high level of refining was planned only after the completion of all stages of modernization that Saneg is carrying out at the Fergana Refinery. However, achieving such a result earlier becomes possible thanks to systemic reengineering of business processes and the accelerated implementation of advanced equipment.

The reality of such achievements was also shown by the results of 2023, when the processing rate increased by 37.5% compared to a year earlier - to 1,280 thousand tons of processed raw materials, including 448 thousand tons of imported ones.

Naturally, this led to an increase in the volume of sales of petroleum products to 970 thousand tons, which is 54.8% more than in 2022. The line of main petroleum products includes diesel fuel, gasoline and bitumen.

This steady growth trend in the activity of the Fergana Refinery has been characteristic of the enterprise since 2020, when the Saneg company was involved in the trust management of this asset. Oil production at the fields shows the same growth.

Since the start of Saneg’s active investments in the development of new and depleted fields, their production rates have increased by 42% (2019 - 420 thousand tons, 2023 - 594.6 thousand tons), while compensating for the annual natural rate a 28% drop in hydrocarbon production.