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RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of July 9, 2019 No. PP-4388

About measures for stable providing economy and the population with energy resources, financial improvement in enhancement of management system oil and gas industry

In recent years consecutive work on complex development of fuel and energy industry and diversification of the power sources which are important factor of ensuring more and more increasing need for energy resources is carried out.

At the same time inefficiency of conducting exploration works, implementation of investment projects and pricing resulted in incomplete security of economy and the population of the republic with energy resources, deterioration in financial position of the companies of oil and gas industry.

So, in case of increase in natural gas production for the last 20 years for 8 percent the amount of its production by domestic enterprises decreased by 29 percent, the confirmed inventories of natural gas in 2008 - 2018 were reduced by 4 percent, the average value of substitution of natural reserves of natural gas for the expired 5 years constituted about 70 percent.

As a result of insufficiency of financial resources and deficit of material resources in 2017-2018 the surplus of natural gas production is provided only for 42 percent from forecast indicators.

The obsolete and opaque management system combining in itself regulatory functions and business activity interferes with implementation at the companies of oil and gas industry of modern management, to increase in their financial stability and profitability.

For the purpose of complete satisfaction of requirement of economy and the population of the republic in energy resources, ensuring financial improvement of the companies of oil and gas industry, creating favorable conditions for development of healthy competition, implementation of modern digital technologies and advanced methods of management on the basis of the commonly accepted international practice:

1. Take into consideration that together with the international consulting companies and the international financial institutions the Concept of development of oil and gas industry of the Republic of Uzbekistan till 2030 is developed.

2. Form the Republican working commission on implementation of the Concept of development of oil and gas industry of the Republic of Uzbekistan till 2030 (further - the Republican working commission) in structure according to appendix No. 1.

Republican working commission (A. N. Aripov) in a month:

a) taking into account the performed reforms to approve "road maps" on implementation of the Concept of development of oil and gas industry of the Republic of Uzbekistan till 2030, having paid special attention on:

growth in volumes of production of hydrocarbonic raw materials;

upgrade of gas-transport system;

enhancement of accounting and control of production, conversion, transportation and realization of natural gas;

critical studying and optimization of investment projects, and also enhancement of mechanisms of their realization;

strengthening of financial discipline and enhancement of pricing at the companies of oil and gas industry;

b) approve the lists of workers of the commissions on each direction of the Concept of development of oil and gas industry of the Republic of Uzbekistan till 2030;

c) take measures for involvement of the international financial institutions, foreign government financial institutions (further - MFI/IPFO) and the consulting companies to practical implementation of the Concept of development of oil and gas industry of the Republic of Uzbekistan till 2030 together with the created working commissions;

d) provide creation in the Department of Energy of project office on coordination of reforming of oil and gas industry with the extreme number of staff of the managerial personnel in quantity to 20 units financed by means of off-budget fund of development of fuel and energy industry in case of the Department of Energy of the Republic of Uzbekistan, means of technical assistance (grants) of MFI/IPFO.

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