President of Uzbekistan Islam Karimov approved an agreement on main principles of cooperation on joint development of Mingbulak oil field, which was signed by Uzbekneftegaz national holding company and CNPC.

In line with the document, the Chinese company confirmed its liability to invest US$212 million to holding geological exploration works and experimental-industrial mining of hydrocarbons at the field with achieving project capacity of 200,000 tonnes of oil a year. Mingbulakneft JV LLC is project operator.