Uzbekneftegaz press service said the KNOC President Young-won Kang visited the project area and familiarized with drilling sites.

Aral Sea Operating Company JV LLC is planning to drill the second exploration well, which will help to determine gas reserves at the contract area.

Aral Sea Operating Company JV LLC was established by consortium of investors in accordance with Decree of President of Republic of Uzbekistan No. 457 dated 30 August 2006 "On the conduction of geological studies of Uzbekistan part of Aral Sea with further development of newly discovered deposits of hydrocarbons based on the terms of Production Sharing Agreement (PSA). PSA for the Uzbekistan part of Aral Sea between Republic of Uzbekistan and Consortium of Investors was signed on 30 August 2006.

Investors for PSA and founders of Aral Sea Operating Company are Uzbekneftegaz, Petronas Carigali SDN BHD (Malaysia), LUKOIL Overseas Aral Ltd. (Russia), KNOC Aral Ltd. (Korea) and CNPC International Ltd. (China).

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.