BAKU, Azerbaijan, December 21. Uzbekneftegaz JSC, the state-owned holding company of Uzbekistan's oil and gas industry, plans to drill 530 new wells over the next 10 years, Trend reports citing the press service of the company.
According to the 10-year program of oil and gas exploration of Uzbekneftegaz, the company eyes to drill 1,7 million meters of exploration wells in total.
Besides, it is planned to conduct 15,600 sq. km. of 3D seismic surveys over the next 10 years, as well as to commission 211 new drilling sites.
As a result, the reserves of natural gas will be increased to 365 billion cubic meters and liquid hydrocarbons - to 16 million tons. About $3.4 billion will be allocated to these activities.
Furthermore, oil and gas exploration will be carried out mainly in prospective areas such as the Ustyurt region (at depth of 6 km) and the Bukhara-Khiva region (at depths of 4.5-6 km).
Moreover, digital modeling and design to begin drilling works up to 6.5 km deep by 2023 on such areas as Garbiy Kuyi Surgil, Kuyi Sharki Berdah, Kelajak, Aspartay and Arslon have been completed.
Thus, together with the State Committee of Geology, Schlumberger, and BCG, work will be carried out to confirm the projected hydrocarbon reserves in the Ustyurt region at a depth of 6 km in the amount of about 1.5 trillion cubic meters.
Meanwhile, the adoption of a 10-year exploration program to increase gas reserves is due to the fact that investments in new gas fields have not been distributed for many years.