One of the largest oil and gas companies in the Republic of Uzbekistan, Sanoat Energetika Guruhi (SEG), with the acquisition of the Fergana Oil Refinery Plant, will build a business model according to the scheme of a vertically integrated oil company VINK. Thus, SEG will provide a full cycle of obtaining refined products: from exploration and production to the production of high-quality products from crude oil to ensure the uninterrupted supply of residents of the Republic of Uzbekistan with fuel from its own raw materials.
The integration of the Fergana Oil Refinery Plant into the SEG production chain comes after a one and a half year period of trust management of the enterprise, during which a number of initiatives were implemented and aimed at increasing the degree of utilization of the plant. In particular, a modernization program was prepared, the SAP ERP resource management system was introduced, the company switched to international financial reporting standards, and a number of other initiatives were implemented.
“We intend to almost double the capacity of the enterprise. If today the Fergana Oil Refinery Plant produces no more than 1 million tons of products per year, then our plans are to increase this figure to 2 million tons. By September 2023, the plant will produce Euro-5 gasoline, as well as all modern types of oils and other refined products. Unfortunately, for the last twenty years, the Fergana Oil Refinery Plant has been on the periphery of investment interests; the enterprise has not been modernized for more than 30 years. Today, we involve such international companies as Afton Chemical, Lubrizol (USA), Infineum (England), Evonik (Germany) and a number of other international companies for technical re-equipment,” said SEG CEO Shokir Fayzulaev.
In addition to integrating the enterprise into the production chain, SEG will extend the best corporate practices to Fergana Oil Refinery Plant, such as international standards for employee development and advanced training. As before, Fergana Oil Refinery Plant will take an active part in the development of the Fergana region, invest in environmental protection, as well as support local communities.
Press service of “Fergana Oil Refinery Plant” LLC