According to the venture, the tender was announced for construction of one exploration well at Umid structure and appraisal well at Western Aral structure.

Bid submission period expires at 11:00 (Tashkent time) on 11 November 2011. Aral Sea Operating Company JV will finance the project due to own resources.

In August 2006, the Government of Uzbekistan and International consortium, including Uzbekneftegaz, Russia’s Lukoil Overseas, Malaysia’s Petronas, Korea’s KNOC and China’s CNPC signed PSA on the project for 40 years.

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.