As earlier reported, the joint venture received industrial gas inflow in the western Aral and plans to drill the second well, which will allow to receive more accurate date on gas reserves.

Representative of Uzbekneftegaz national holding company stated that Aral Sea Operating Company JV LLC received commercial gas inflow from another object at the Uzbek part of Aral Sea.

The consortium of investors held 2,900 km of seismic-exploration works with 2D methods. The consortium developed four perspective fields, from two of which commercial gas inflow was received.

Aral Sea Operating Company JV LLC was established by consortium of investors in accordance with Decree of President of Republic of Uzbekistan No. 457 dated 30 August 2006 "On the conduction of geological studies of Uzbekistan part of Aral Sea with further development of newly discovered deposits of hydrocarbons based on the terms of Production Sharing Agreement (PSA). PSA for the Uzbekistan part of Aral Sea between Republic of Uzbekistan and Consortium of Investors was signed on 30 August 2006.

Investors for PSA and founders of Aral Sea Operating Company are Uzbekneftegaz, Petronas Carigali SDN BHD (Malaysia), LUKOIL Overseas Aral Ltd. (Russia), KNOC Aral Ltd. (Korea) and CNPC International Ltd. (China).

In line with the PSA, Uzbekistan will possess 50% of product, while consortium participants will receive 10% each in the initial stage of the project.