President of Uzbekistan Islam Karimov signed a resolution, which approved scheme and order of project financing.

CNPC and Andijanneft OJSC, part of Uzneftegazdobicha created a joint venture Mingbulakneft. The venture is operator of the project and its announced charter capital is US$3 million.

All extracted oil from Mingbulak field will be processed at the oil processing plants in Uzbekistan, gazeta.uz reported.