Economic Analysis of The Current State of The Oil and Gas Industry Enterprises of Uzbekistan
Corresponding Author(s) : Sonaev Sanjar Nurmamatovich
American Journal of Economics and Business Management,
Vol. 8 No. 5 (2025): May
Abstract
The oil and gas industry remains a cornerstone of economic development and energy security in many nations. In Uzbekistan, the sector’s contribution is strategically vital, particularly amid global shifts toward sustainable energy sources. Despite substantial investment and output, there is limited integrative analysis of Uzbekistan's oil and gas industry's development trends in relation to global benchmarks. This study aims to evaluate the current state, investment trends, and production dynamics of Uzbekistan’s oil and gas sector, while comparing them to international standards. The analysis shows increased production in recent years, with total output in 2023 reaching 39.33 trillion soums and natural gas production amounting to 46.7 billion cubic meters. Investments have supported infrastructure development, energy diversification, and localization efforts, leading to cost savings and job creation. The study offers a comprehensive multi-method assessment combining national statistics, international investment comparisons, and sector-specific outputs. Findings underscore the importance of continuous innovation, strategic investment, and regional infrastructure modernization to sustain growth and energy independence in Uzbekistan’s oil and gas industry.
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- A. Otabek and B. Otabek, "Alternative energy and its place in ensuring the energy balance of the Republic of Uzbekistan", in AIP Conference Proceedings, AIP Publishing, 2023. doi: 10.1063/5.0117633.
- G. J. Allaeva, S. A. Nabieva, i B. R. Tillyaeva, "Analysis and assessment of the sustainable development of fuel and energy complex enterprises in the conditions of the formation of the digital economy", J. Pharm. Negative. Results, vol. 13, vyp. SPECIAL ISSUE 07, 2022, doi: 10.47750/pnr.2022.13.S07.800.
- Author, «Based on data from https://www.iea.org/t_c/termsandconditions/». 2024 g. [Online]. Available at: https://www.iea.org/t_c/termsandconditions/
- S. S. Salimovna, "ENSURING THE EFFICIENCY OF ENERGY ENTERPRISES", Sci. J. Actuarial Science. Finance Account., vol. 4, issue 1, pp. 211–215, 2024.
- G. Allaeva, "Main directions of sustainable development of fuel and energy enterprises", in AIP Conference Proceedings, AIP Publishing, 2024. doi: 10.1063/5.0220851.
- S. S. Salimovna, "ANALYSIS OF INVESTMENT AND INNOVATION ACTIVITY IN OIL AND GAS PRODUCING ENTERPRISES", Digital Economics Digital Economics, issue 9, pp. 307–316, 2024.
- S. S. Salimovna, "INCREASING THE EFFICIENCY OF THE OIL AND GAS INDUSTRY ENTERPRISES IN UZBEKISTAN", Digital Economics Digital Economics, vol. 9, pp. 396–402, 2024.
- "Open data portal". 2024. [Online]. Available at: https://www.ung.uz/open-data/18/sub/42/1
- S. Ibragimova and F. Abdulazizov, "Changes in developing corporate governance based on modern world standards", GREEN ECONOMY AND DEVELOPMENT, vol. 3, vol. 1, 2025.
- S. Salomova, "IMPROVING THE ACTIVITY OF INDUSTRIAL ENTERPRISES ON THE BASIS OF INNOVATION", Interpret. Res., vol. 1 (47), 2025.
- G. J. Allaeva, "Sustainable development methodology of fuel-energy complex of the republic of Uzbekistan", v E3S Web of Conferences, EDP Sciences, 2021, p. 07033. doi: 10.1051/e3sconf/202128907033.
- "Uzbekistan Ministry of Energy". 2024 g. [Online]. Available at: https://minenergy.uz/uz/lists/guide
- O. Akhmedov and O. Begmullaev, "The ways of ensuring energy balance in Uzbekistan", in E3S Web of Conferences, EDP Sciences, 2020, p. 01137. doi: 10.1051/e3sconf/202021601137.
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- M. S. Saidov, "Improving management efficiency at oil and gas industry enterprises in Uzbekistan", Acad. J. Digit. Econ. Stab., t. 25, ss. 15–24, 2023.
References
A. Otabek and B. Otabek, "Alternative energy and its place in ensuring the energy balance of the Republic of Uzbekistan", in AIP Conference Proceedings, AIP Publishing, 2023. doi: 10.1063/5.0117633.
G. J. Allaeva, S. A. Nabieva, i B. R. Tillyaeva, "Analysis and assessment of the sustainable development of fuel and energy complex enterprises in the conditions of the formation of the digital economy", J. Pharm. Negative. Results, vol. 13, vyp. SPECIAL ISSUE 07, 2022, doi: 10.47750/pnr.2022.13.S07.800.
Author, «Based on data from https://www.iea.org/t_c/termsandconditions/». 2024 g. [Online]. Available at: https://www.iea.org/t_c/termsandconditions/
S. S. Salimovna, "ENSURING THE EFFICIENCY OF ENERGY ENTERPRISES", Sci. J. Actuarial Science. Finance Account., vol. 4, issue 1, pp. 211–215, 2024.
G. Allaeva, "Main directions of sustainable development of fuel and energy enterprises", in AIP Conference Proceedings, AIP Publishing, 2024. doi: 10.1063/5.0220851.
S. S. Salimovna, "ANALYSIS OF INVESTMENT AND INNOVATION ACTIVITY IN OIL AND GAS PRODUCING ENTERPRISES", Digital Economics Digital Economics, issue 9, pp. 307–316, 2024.
S. S. Salimovna, "INCREASING THE EFFICIENCY OF THE OIL AND GAS INDUSTRY ENTERPRISES IN UZBEKISTAN", Digital Economics Digital Economics, vol. 9, pp. 396–402, 2024.
"Open data portal". 2024. [Online]. Available at: https://www.ung.uz/open-data/18/sub/42/1
S. Ibragimova and F. Abdulazizov, "Changes in developing corporate governance based on modern world standards", GREEN ECONOMY AND DEVELOPMENT, vol. 3, vol. 1, 2025.
S. Salomova, "IMPROVING THE ACTIVITY OF INDUSTRIAL ENTERPRISES ON THE BASIS OF INNOVATION", Interpret. Res., vol. 1 (47), 2025.
G. J. Allaeva, "Sustainable development methodology of fuel-energy complex of the republic of Uzbekistan", v E3S Web of Conferences, EDP Sciences, 2021, p. 07033. doi: 10.1051/e3sconf/202128907033.
"Uzbekistan Ministry of Energy". 2024 g. [Online]. Available at: https://minenergy.uz/uz/lists/guide
O. Akhmedov and O. Begmullaev, "The ways of ensuring energy balance in Uzbekistan", in E3S Web of Conferences, EDP Sciences, 2020, p. 01137. doi: 10.1051/e3sconf/202021601137.
G. Allaeva, "The role of energy security in forming the foundations for sustainable development of fuel and energy complex enterprises", v E3S Web of Conferences, EDP Sciences, 2023, p. 01061. doi: 10.1051/e3sconf/202346101061.
M. S. Saidov, "Improving management efficiency at oil and gas industry enterprises in Uzbekistan", Acad. J. Digit. Econ. Stab., t. 25, ss. 15–24, 2023.