Uzbekistan’s Aral Sea Exploration Venture Begins Seismic Work
Russia’s Lukoil Overseas on 12 October said 2D seismic operations had begun in the Uzbek sector of the inland Aral Sea within the framework of the Aral Sea Project. A joint venture comprised of five companies was established in Tashkent in 2006 to carry out the project (MEES, 4 September 2006). A production-sharing agreement (PSA) was awarded by the Uzbek government to the Aral Sea Operating Company, comprising state oil company Uzbekneftegaz, Lukoil Overseas, China’s CNPC International, the Korea National Oil Corporation, and Malaysia’s Petronas Carigali Overseas. Each investor holds 20% of the license. The PSA calls for 2,300km of 2D seismic to be acquired during 2007-08 and a minimum of $100mn to be invested in exploration during first phase development, which includes drilling two wells. PetroAlliance has been selected to carry out the seismic acquisition. Lukoil said seismic operations would cover the aquatic area of the Uzbek sector of the sea, the transit and the terrestrial zones. A feasibility study based on seismic and drilling results will be drawn up and approved with subsequent adjustment to the commercial terms of the PSA. Phase 2 exploration will follow.
Copyright MEES 2007.
