Market Size of Uzbekistan Oil and Gas Upstream Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | < 2.79 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Uzbekistan Oil & Gas Upstream Market Analysis
The market for oil and gas upstream in Uzbekistan is expected to grow at a CAGR of less than 2.97% during the forecast period of 2020 - 2025. Factors, such as increasing natural gas production, and plans to improve oil and gas production are expected to increase the growth for the Uzbekistan oil and gas market, during the forecast period. However, reducing consumption of natural gas, in the country may impede growth in the market.
- Natural gas is the most important export commodity in the country. The production of oil in the country is small and most of the fossil fuel export, in the country, are accounted by the export of natural gas.
- In 2019, New Chakar gas field has been discovered in the Fergana Valley in Uzbekistan. The gas fields are expected to aid the government to increase its production targets and provide an opportunity for the companies in the industry.
- Increasing investment in the upstream sector is expected to be the most prominent driver of the Uzbekistan oil and gas upstream industry. Increasing production of oil and gas in the country is, also, expected to further boost the market in the forecast period.
