JV "Aral Sea Operating Company" LLC was established by Consortium of Investors in accordance with Decree of President of Republic of Uzbekistan № ПП-457 dated 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). PSA for the Uzbekistan part of Aral Sea between Republic of Uzbekistan and Consortium of Investors was signed on 30.08.2006. On 21.02.2007 JV "Aral Sea Operating Company" LLC was registered by the Ministry of Finance as a Legal entity. Investors for PSA and founders of JV "Aral Sea Operating Company" LLC are National Holding Company "Uzbekneftegaz", "Petronas Carigali SDN BHD" (Malaysia), "LUKOIL Overseas Aral Ltd." (Russia), KNOC Aral Ltd. (Korea) and CNPC Internation Ltd. (China).