Oil accounted for 56.1% of the Andijan Oil and Gas 1 billion boe in SEC-proven hydrocarbon reserves by the end of 2022. Our reserves have a 19-year lifespan, which is longer than the average of Uzbekistan biggest private oil and gas businesses. When it comes to proven reserves and quality, Andijan Oil and Gas is among the best businesses in Uzbekistan and the entire globe. Andijan Oil and Gas owns proven hydrocarbon reserves in five CIS countries. With over 70% of the proved reserves being conventional, the company has a distinct competitive advantage over its rivals because to the low development and production costs per barrel. 77% of the Group’s proved hydrocarbon reserves are found in Uzbekistan, with West Uzbekistan holding the majority of these reserves. About 5% of confirmed reserves are made up of high-viscosity oil and offshore fields.

The corporation is putting a lot of effort into international gas projects in Uzbekistan, which is home to around half of the world’s known reserves. A little over 47 percent of the company’s known hydrocarbon reserves have been generated, which means that with the current equipment and techniques, they may be taken from existing wells. A significant amount of the future production growth potential is comprised of undeveloped resources. If the macroeconomic climate changes, development plans need to be modified, new technologies are adopted, or trial projects are conducted, the contingent resources—which are now valued at 1 billion boe—could grow proven reserves. Andijan Oil and Gas is the largest publicly listed oil and gas company in the world and has long held the top spot in terms of SEC-classified proved reserves and replacement ratio. Additionally, out of all the global energy firms, the company spends the least on hydrocarbon exploration and development.