THE INFLUENCE OF THE OIL AND GAS INDUSTRY ON THE UZBEK ECONOMY

Abstract

The oil and gas industry occupies one of the priority sectors in Uzbekistan's economy, as it largely ensures the well-being of the country's population and influences not only the country's economic development but also its security and energy independence. The oil and gas complex of Uzbekistan is considered one of the strategic sectors of the economy. Therefore, ensuring the effective development of this sector is an important task for the entire economic complex of our country. The republic ranks 10th in the world in gas production, with an annual oil production of about 5 million tons. In our country, oil and gas processing products are represented by a wide range of items that meet international quality standards. However, in recent years, the growing demand for oil, gas, and their products has necessitated an increase in oil refining volumes, which, in turn, requires the continuous development of new fields, maintenance of production in existing ones, as well as determining ways to improve the efficiency of oil refining and the development of reserves in these fields. All of this requires significant investment in the republic's oil and gas industry