Oil and Gas Exploration
Ergash Shaismatov, the Deputy Prime Minister of Uzbekistan, announced on August 30, 2006, that the Uzbek government and an international consortium consisting of state-run Uzbekneftegaz, LUKoil Overseas, Petronas, Korea National Oil Corporation, and China National Petroleum Corporation signed a production-sharing agreement to explore and develop oil and gas fields in the Aral Sea, saying, "The Aral Sea is largely unknown, but it holds a lot of promise in terms of finding oil and gas. There is risk, of course, but we believe in the success of this unique project." The consortium was created in September 2005.
As of June 1, 2010, 500,000 cubic meters of gas had been extracted from the region at a depth of 3 km.
Read more about this topic: Aral Sea
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