About us


JV “Aral Sea Operating Company” LLC has been established by the Investor’s consortium in accordance with Decree of the President of Republic of Uzbekistan no. ПП-457 dated on 30.08.2006 “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). On 21st of February 2007 JV ''Aral Sea Operating Company'' LLC was registered by the Ministry of Finance as a Legal entity (the Operator).

The Contract Area is located in the north-west part of Republic of Uzbekistan on the territory of Karakalpakstan with administrative center in Nukus town. Urgench-Khodjeyli-Beyneu railway branch with station at Kungrad city and E-40 Bukhara-Nukus-Kungrad-Beyneu motor road are located in the direct vicinity. Total area of the Contract area makes 18331 sq. km.

Investor's consortium consists of five international companies with equal shares: Chinese National Petroleum Corporation (CNPC), Korean National Oil Corporation (KNOC), Lukoil Overseas Holding Ltd. (Russia), PETRONAS Carigali Overseas SDN BHD (Malaysia) and “Uzbekneftegaz” NHC.

2D seismic works in the amount of about 3000 running km, performed from 2007 to 2009 in severe climate conditions as well as in the absence of infrastructure resulted in identification of several prospects – West Aral, North-West Aral, Duana, Ak-Tepe, Dengiz, Kinderley and Kassarma uplifts. A gas deposit with calculated reserves of C1+C2 gas of about 9.1 BCM was discovered at “West Aral” structure as a result of drilling of first exploration well in spring of 2010. Drilling of WA-2A appraisal well confirmed presence of gas in Middle Jurassic sediments. Moreover, an oil deposit was also discovered in Upper Jurassic.

Following works performed during the Main stage and considering prospects and potential of the region as well as to perform comprehensive geological examination of West Aral field and adjacent geological structures a decision has been made to perform 3D seismic data acquisition in order to discover new fields and to evaluate hydrocarbons reserves at newly discovered fields. Minimal financial commitment for these operations and drilling of wells made USD 30.0 mln.

Subsequent works program for the Project was approved by the Decree of the President of Republic of Uzbekistan no. 2059 “On additional measures for subsequent implementation of the PSA for the Uzbekistan part of Aral Sea” dated 30.10.2013.

In accordance to the decision of the General Meeting of Participants (Protocol No.83/16 dated 26th of December, 2016) JV "Aral Sea Operating Company" LLC voluntarily liquidated on 1st of January, 2017.

 

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© 2014 JV "Aral Sea Operating Company" LLC.