According to the interlocutor, for the field development purposes, ZEROMAX and Shurtanneftegas set up a joint venture, Kultakneftgaz, in the form of a limited liability company with the authorized capital of US$300,000, with the equal distribution of shares. "It will engage in the project implementation on equipping the territory of the Nishan gas condensate field with needed facilities and equipment and launching its development, worth of US$147 million. The works will be carried out at the foreign investor’s expense", the Uzbek official said.

According to him, a subsidiary of ZEROMAX, Uzgasoil, which was selected as an operator for carrying out geological survey operations in 2008-2012, will carry out 2D seismic survey operations in the amount of 800rm at the Aizavatsky area and 3D seismic survey in the amount of 2,100m2 at the Girsansky, Kirkkuloch-Alyadunsky, Gasandzha-Dalikunsky, Nishansky and Beshkent-Kamashinsky sites.

"In the framework of the project, 24 new promising structures will be prepared with the subsequent launching them into exploratory drilling, and 48 exploratory holes will be built. The given project provides for the attraction of direct investments in the amount of US$238.7 million, including US$164.8 million within the first three years. According to the analysts’ estimate, the launching of the fields into operation will add to the increased hydrocarbons reserves in the amount of more than 102 million tons of conditional fuel", the spokesman from the agency said.

According to ZEROMAX GmbH, upon getting of all approvals, as it is expected, a new well No.6 will be put into operation, located at the newly-discovered Nishan field within the promising exploratory site with the total area of 41.3m2. The expected daily output at the initial stage is 15 tons of crude, 25 tons of gas condensate, and 650,000m3 of natural gas. In 2009, it is planned to produce 5,475 tons of oil, 10,790 tons of gas condensate, and 2.7 billion cubic meters of natural gas. The daily production in December of 2009 is expected at 10 million cubic meters of gas.