Consortium of investors including LUKOIL Overseas discovers natural gas field in Uzbekistan

Therefore, for the first time commercial presence of natural gas in Jurassic deposits was established in Kosbulak deflection of North-Ustyurt petroleum province.
The Aral license block is located in the north-west of the Republic of Uzbekistan, includes offshore and onshore areas of the Uzbek sector of the Aral Sea. Well drilling on the West Aral prospect continued from November 2009 to April 2010. The depth of the well is 3,300 meters, pay zones were penetrated within the depth range of 2,000-3,000 meters. Testing of 3 horizons in the Middle Jurassic terrigenous reservoirs resulted in the total maximal flow of about 580,000 cubic meters of natural gas per day. The obtained data is being analyzed and the volume of discovered reserves is being updated. Drilling of the second exploration well on Shagala prospect is expected to start this summer.
PSA for the Aral block was signed in August 2006 for 35 years and took effect in January 2007. A consortium of investors implements the project where each of National Holding Company Uzbekneftegaz, LUKOIL Overseas, CNPC International (China), KNOC Aral (Korea) and Petronas Carigali Overseas (Malaysia) has equal stakes (20%). Aral Sea Operating Company operates the project with a head office in Tashkent. Investments of the first stage of the project (seismic survey and 2 exploration wells) amount to $100 million.

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