Mutalibjon Nurmatov, representative of Uzbekneftegaz, said the consortium of investors held 2,900 km of seismic-exploration works with 2D methods.

He said the consortium developed four perspective fields, from two of which commercial gas inflow was received.

Mutalibjon Nurmatov recalled that the consortium received commercial gas inflow in the Uzbek part of the Uzbek area of Aral. Literally today, the commercial gas inflow was received from the third object.

Nurmatov said that the consortium will assess reserves of the deposit and will file about commercial discovery.

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.