Projects

Project "Increase in oil production"

According to the Decree of the Cabinet of Ministers of the Republic of Uzbekistan - "On measures to further increase oil production from fields with hard-to-recover reserves and the volume of hydrocarbon processing" dated 12/15/2019. No. 1002, PE LLC "Sanoat Energetika Guruhi" was appointed the executor of the Program for increasing oil production for the period 2020-2030 with the transfer of operating functions from January 1, 2020.

The subsoil use rights for 105 fields were transferred to the joint venture, and assigning geological exploration and mining rights, plus registration of relevant mining and land allotments. The Company is to assess field reserves and apply the most efficient hydrocarbon production technology. Several internationally recognized oilfield service and consulting organizations are engaged, after a tender process.

According to the developed Program for increasing oil production for 2020-2030, the Company oversees the following operations: a study of fields with the drilling of appraisal and development wells and the overhaul of existing wells, the use of modern technologies for geological and geophysical reservoir studies, the development of oil deposits by restoring the well stock, and organization of active displacement of oil from oil-saturated lenses blocked in inter-well zones.

Estimates suggest implementation of the program will require drilling of 801 wells, complex workovers of over 500 wells, maintenance of the existing well stock, and introduction of the latest technologies with potential investments of up to $2.7 billion, for the period from 2020 to 2030.

Implementation of the Program, including planned production from fields commissioned by foreign companies, anticipates increased the total annual oil production, in Uzbekistan, to 2 million tons.

Project “Capacity loading and modernization of the Fergana Oil Refinery”

Decree of the Cabinet of Ministers dated February 7, 2020, No. 67 - “On measures for the efficient use of the capacities of Ferghana Oil Refinery LLC and the implementation of the modernization of the plant” appointed PE Sanoat Energetika Guruhi LLC as a trustee of a 100% state share in the authorized capital of Fergana refinery.

We plan program to develop Fergana Oil Refinery for 2020-2030, including:

• Production from July 1, 2023, of gasoline not lower than AI-92 grade and diesel fuel meeting Euro-5 requirements;
• Production of motor oils meeting international requirements, by modernization of the oil block;
• Increasing oil refining capacity to at least 2 million tons by 2030, and using free market pricing for production, in proportion to imported oil;
• Development of a feasibility study to modernize Fergana Oil Refinery and obtain relevant state approvals;
• Attracting foreign direct investment, credit resources of international and local financial institutions up to US$400m to implement the project.

According to the Decree of the Cabinet of Ministers dated February 7, 2020, No. 67, a Trust Management Agreement dated March 7, 2020, was signed between the State Assets Management Agency (Beneficiary), FE Sanoat Energetika Guruhi LLC (Trust Manager) and Fergana Oil Refinery LLC (Project Company).