Uzbekneftegaz outlines plans to reduce costs and boost gas production after leadership change

At a working meeting, the new chairman of Uzbekneftegaz, Abdugani Sanginov, who replaced Bakhodirjon Sidikov, analyzed current operations and outlined a clear framework for the company’s activities and practical plans for the upcoming period.

Key priorities include developing comprehensive plans across all sectors for 2026, implementing updates at all levels without relying on external credit lines, and aligning the company’s operations with international standards.

The meeting also addressed phased reductions in production costs and the strengthening of strict measures to prevent theft and other illegal activities at oil depots.

Directives were issued to accelerate transformation processes within the state company, critically review the economic department’s activities, drastically cut excessive spending, and allocate existing resources to geological exploration and fundamental improvements in production volumes.

Uzbekneftegaz emphasized that stabilizing gas production and ensuring reliable supply to the population during cold winter months remain a top priority in state policy. “The key task set by the head of state is to prioritize the interests of the people, ensure uninterrupted energy supplies, and maintain social stability,” the company stated.

Recently, a meeting at Uzbekneftegaz was attended by Deputy Prime Minister and Minister of Finance and Economy Jamshid Kuchkarov. The session introduced the new chairman, Abdugani Sanginov, and reviewed urgent priorities, including production stabilization.

“Despite the conditions and opportunities created by the initiatives and directives of the head of state for comprehensive industry development and its advancement to a new stage, the expected results have not yet been achieved. The current situation has come under criticism,” the statement noted.

The new management has been tasked with elevating geological exploration and production activities, reviewing operations across all sectors, implementing international management standards, assessing cooperation with foreign partners, and ensuring more efficient use of financial resources.

Abdugani Sanginov expressed his intention to approve a new Uzbekneftegaz Transformation Strategy “in the shortest possible time” and to ensure the stabilization of gas production.