Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Sverdrup keeps on giving
Equinor and its partners at Norway’s largest oilfield have pulled the trigger on a fresh $1.3b investment that will maintain high output for longer
Nigeria bullish about oil recovery
Efforts to restructure and boost investment appear to be working, but doubts remain about the plan to almost double crude production by 2030
Major upstream decline threatens Mexico’s energy security
Dire crude projections and heavy debt burden are weighing heavily on NOC Pemex
Offshore industry overcoming arch foes
ExxonMobil and Eni offer hope for projects as sector looks to get to grips with cost overruns and delays
Bakken oil output may hold its ground
While oil prices will determine the trajectory of the key US shale patch, regulation and technological shifts are also likely to shape direction longer term
China’s oil output to scale new heights
New discoveries and stabilisation of legacy fields’ output have helped China reverse the decline and be a top-five producer in recent years
Old hands dominate Algeria’s upstream auction
The country’s latest licensing round attracted bids from IOCs and NOCs in a better showing than its last outreach to bidders
US, Russia and China circle the Arctic
The strategic importance of vast untapped oil and gas reserves and key shipping routes has come in from the cold
Look again at African oil and gas investment
Sound development planning is essential in this diverse and rapidly evolving region
Azerbaijan enjoys rare upstream FID
BP and partners have reached a $2.9b FID on a new phase at Shah Deniz, but slow progress on other gas projects is attributed to a lack of European support
Uzbekistan Upstream
Tim Crawford
15 May 2024
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Uzbekistan’s privatisation push bears fruit

Five years ago, Uzbekistan turned to a private company called Saneg to reverse the fortunes of its oil industry. Results so far are encouraging, and according to CEO Tulkin Yusupov, further progress is on the way

Uzbekistan five years ago entrusted a private company to help revive its flagging oil production and bolster the national fuel security, handing it licences to more than 100 mostly mature oilfields and tasking it with modernising the country’s largest oil refinery. That company, Saneg, owned by influential Uzbek businessman Bakhtiyor Fazilov, has managed to not only arrest decline in output at the fields but significantly expand it. Today, the company controls more than 70% of Uzbekistan’s oil production and a sizeable chunk of its fuel supply. Uzbekistan is primarily a gas rather than oil producer, and liquids output has declined significantly over recent decades. Alongside 46.7bcm of natur

Also in this section
Sverdrup keeps on giving
11 July 2025
Equinor and its partners at Norway’s largest oilfield have pulled the trigger on a fresh $1.3b investment that will maintain high output for longer
Australia gas security faces fitness test
11 July 2025
Reassessment of the country’s export-facing gas policy coincides with worsening domestic market backdrop
Waiting for Arctic LNG 2
10 July 2025
Without sanctions relief, there is little reason to believe the latest potential attempt at exports from the Russian liquefaction project will be more successful than the one last summer
Nigeria bullish about oil recovery
9 July 2025
Efforts to restructure and boost investment appear to be working, but doubts remain about the plan to almost double crude production by 2030

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search