TASHKENT, December 12 (RIA Novosti, Abu-Ali Niyazmatov) - An international consortium will start geological prospecting work in the Uzbek water area of the Aral Sea in March 2006, Uzbekistan's national holding Uzbekneftegaz said Monday.
A company spokesman said the $280 million project would be implemented in three stages.
The consortium, made up of Uzbekneftegaz, Malaysia's Petronas, Russia's LUKoil Overseas Holding Ltd., South Korea's KNOC and China National Petroleum Corporation, was established in September 2005, with equal member participation. A production sharing agreement is expected to be signed in 2006.
