New Market Research Report: Uzbekistan Oil & Gas Report Q3 2014
Fast Market Research recommends "Uzbekistan Oil & Gas Report Q3 2014" from Business Monitor International, now available
[UKPRwire, Thu Jun 12 2014] Gas projects - both upstream and downstream - have more momentum than oil developments as we forecast for total liquids production to be barely supported by a rise in condensate output. However, consumption growth in both oil and gas will be curtailed for the following reasons: diversion of gas to external markets to meet its export obligations and a failure to meet its local refined products demand domestically and restrictions on fuel imports.
The main trends and developments in Uzbekistan's oil and gas sector are:
* We forecast a very gradual decline in oil reserves, with 485.0mn barrels (bbl) forecast to remain by 2023, down from the EIA's estimate of 594.0mn bbl for 2013. The outlook is slightly better for gas. Some discoveries and exploration activity would keep gas reserves stagnant at about 1.8trn cubic metres (tcm) through to 2018, though Uzbekistan would need to speed up the rate of exploration and discovery should it wish to prevent a fall in gas reserves to about 1.7tcm by 2023.
* Uzbekistan has an estimated 340bn bbl of oil shale deposits and Uzbekneftegaz has established a USD600mn joint venture (JV) project that will convert the oil shale into crude oil to be processed into petroleum products. It has started first drilling at the Sangruntau deposit and aims to produce 2mn tonnes per annum (tpa) of liquids from oil shale (40,164 barrels per day, or b/d) between 2014 and 2015 and 8mn tpa (160,656b/d) by 2018 from the Sangrantau deposit alone. It has also started studying reserve potential at areas in the Kyzylkum desert and Baisun Mountains; however, we have not factored this in our forecast until the success of its first development is proven.
* Without early success in enhanced recovery, shale-based production and/or new field development, we believe crude oil supply - including lease condensate but excluding natural gas liquids (NGL) - will decline to 63,270b/d by 2018. However, additional natural gas liquids (NGL) volume -...
Full Report Details at
The Uzbekistan Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Uzbekistan including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.
BMI's Uzbekistan Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Uzbekistani oil and gas industry.
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