Umurzokov Jamoliddin, PhD
Independent researcher of Tashkent Financial Institute,
e-mail: jamoliddin.umurzokov@gmail.com
ORCID: 0000-0002-7662-4210
Abstract: In the post-pandemic period and the period of geopolitical changes observed in the world, comprehensive development of regions, transformation processes in industries and trends in the development of the economy as a whole show that they are directly related to energy supply. It is important to emphasize the importance of investments in the fuel and energy sector, particularly in the oil and gas industry, in conducting geological exploration. The nature of prospecting requires a special approach, economic risk and return on capital, the form of direct financing, and especially the need for state participation in stimulating the flow of investments. Given the increased risk of investment in exploration compared to other sectors, increasing private investment in exploration is of particular importance. Based on this, this article discusses some issues of the theory and practice of development of geological exploration in the oil and gas industry in the national economy. The main conclusions are that the unsatisfactory state of geological exploration management is largely due to the fact that this field is not effectively regulated. As an example of the results of recent years, up-to-date information describing the problems of subsoil use common to the whole country is presented. The article discusses certain issues of theory and practice of the development of geological exploration in the oil and gas industry of the national economy. The main conclusions are that the unsatisfactory state of exploration management is largely due to the lack of effective regulation in this area. On the example of the results of work in recent years, the actual data characterizing the problems of reproduction of subsoil use common to the whole country are given.
Key words: oil and gas industry, geological exploration, investments, ensuring financial stability, industry, mineral raw materials, drilling, seismic exploration, efficiency.