Joint Venture Established for Exploration in the Uzbek Part of the Aral Sea
Today in Tashkent, the capital of Uzbekistan, an Agreement on the Establishment of the Investors’ Consortium was signed; the Consortium included Uzbekneftegas, LUKOIL Overseas, Petronas Carigali Overseas (Malaysia), Korea National Oil Corporation (Republic of Korea) and CNPC International Ltd. (China).
The Consortium is planning to hold negotiations with the Republic of Uzbekistan for drafting the production sharing agreement (PSA) for exploration and production of oil and gas fields in the Uzbek part of the Aral Sea.
Each member of the consortium has an equal participation share. Discussion of the Agreement on the Establishment of the Consortium started in May of the current year. The PSA is planned to be signed in 2006, and after that the seismic work will start in the contract area.
Over the last several years, 8 gas condensate fields were discovered in the Ustyurt region, where the contract area is located. Two of them – East Berdakh and Uchsay – have been brought into development.
The geological studies carried out by NHC Uzbekneftegas and a number of other companies demonstrate a high hydrocarbon potential of the Aral Sea.
- Romania Closes One Case Against Russia's Lukoil, Related Trial Still On (Nov 17)
- Transneft: Oil Supplies to Lukoil's Norsi Refinery Suspended Due to Fire (Oct 05)
- Russia's Lukoil Eyes Decade Of Oil Output Growth (Sep 20)
Company: Korea National Oil Corp. more info
Operates 1 Offshore Rigs
Manages 2 Offshore Rigs
- KNOC Contracts Land Rig 'KS Discoverer 1' for Drilling in Kurdistan (Mar 18)
- KNOC Seeking to Invest in US Shale Gas (Jul 11)
- DSME Secures Rig Order for Kazakh Oil Search (Apr 16)
Company: CNPC more info
- Petrobras CEO Says To Discuss Refining Partnership With CNPC CEO (Nov 15)
- CNPC Plans to Cut Gas Supplies to Industrial Users-State Media (Nov 06)
- China's CNPC Starts Third Natural Gas Pipeline To Shanghai (Oct 13)
Company: Uzbekneftegas more info
- Uzbekistan President Lends Support to Tethys' E&P Activities (Jan 11)
- Gazprom Signs on for Uzbek Gas Supplies (Dec 29)
- Uzbek, Chinese Firms Discuss Increasing Oil Extraction (Jul 01)