Aral Sea to invest additional US$30m in 2014-2016
20/12/2013 20:23
Aral Sea to invest additional US$30m in 2014-2016
20/12/2013 20:23
Tashkent, Uzbekistan (UzDaily.com) -- Aral Sea Operating Company will additionally invest US$30 million to exploration works at the Uzbek part of Aral Sea, RIA Novosti reported quoting the company.
The additional exploration works envisage 3D seismic works, drilling of one exploration and two additional wells in eastern part of the Aral Sea, the source said.
The source said that additional investments are connected with search of new hydrocarbons field at contract territory to increase commercial efficiency of the project.
The PSA for the Aral block was signed in August 2006 for 35 years and took effect in January 2007. The project is implemented by Uzbekneftegaz National Holding Company, LUKOIL Overseas, CNPC International (China), and KNOC Aral (Korea). Petronas Carigali SDN BHD (Malaysia) was part of the project, but pulled out in May 2011. In September 2013, KNOC withdrew from the project.
In 2011, the consortium of the investors fully implemented a programme on geological survey, envisaged with the PSA within preliminary investments for US$110.2 million. In the result, new hydrocarbon fields Zapadniy Aral and six perspective structures were revealed.. In August 2013, the operator completed additional exploration of the western part of the block with drilling three wells and 3D seismic works. The volume of investments exceeded US$32 million.
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