This is a best prospect industry sector for this country. Includes a market overview and trade data.
Last Published: 7/3/2019

Overview

Mining, quarrying, and oil and gas are the leading industries of Uzbekistan’s economy, despite the sector’s ever more pressing need for further development.  The country’s hydrocarbon reserves are significant; according to local industry officials, total primary energy reserves (proved and projected) amount to 5.5 billion tons of oil equivalent (toe), including 1.5-1.6 billion toe of natural gas, 245 million toe of oil and up to 3.3 billion toe of coal.  The industries are contributing about 16 percent to the GDP of the country, over 20 percent to the state budget earnings, 40 percent of export earnings, and employing nearly 180 thousand people.  Uzbekistan is the second largest natural gas producer in Central Asia.  Accordingly, energy issues remain a high priority in President Mirziyoyev’s agenda.  Despite a breakthrough in improving energy cooperation with regional neighbors, interrupted and insufficient electricity and gas supplies remain an issue.  A number of measures undertaken by the government in 2017-2018 improved the problem of energy shortages and outages in the economy and set out main objectives for sector development.  The government has initiated a number of new large development projects to address the energy insufficiency situation in the country.  Last year the government contracted with American consulting firms McKinsey & Company and Boston Consulting Group to develop recommendations for the development of the oil and gas industry and attraction of foreign investors to implement exploration, development, production and processing projects.

 2016201720182019 estimated
Total Local Production7,0915,8306,3507,200
Total Exports1,7141,9202,6663,100
Total Imports5897428791,400
Imports from the US4.5121725
Total Market Size*5,9664,6524,5635,500
Exchange Rates**2,9655,1218,1008,500
*Total market size = (total local production + imports) – exports
** Exchange Rates = Uzbek sums per $1
Units: $ millions
Source: The State Statistics committee of Uzbekistan.  Data for 2019 was estimated by Post using company project implementation progress reports.  Imports from the U.S. data is from the U.S. Census Bureau.

Leading Sub-Sectors

Oil and Gas Extraction, Support Activities for Mining: U.S. oil and gas companies may bid on contracts to supply services to the country.  Specific fields include consulting, engineering, construction, equipment supply, and management.  The government presently has an increased interest in licensing technologies for oil refining and gas extraction, treatment and processing.  All public sector tenders and technical requirements, specifications, documents, and procedural explanations are available on the website of Uzbekneftegaz Company: www.ung.uz

Opportunities

For specific opportunities, businesses should review tenders via the Internet or contact companies already involved in Uzbekistan’s oil and gas sector.  In general, opportunities exist in developing and exploring fields; analyzing oil and gas-bearing structures; seismic surveys and deep drilling; and joint exploration and development of new fields and deposits.

Web Resources

U.S. companies and individuals interested in learning more about the oil and gas sector, upcoming procurement and export opportunities are encouraged to visit the following websites:



 

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.


More Information

Uzbekistan Energy Trade Development and Promotion