Frontier Seismic Survey Raises Prospect For Increased Fuel Security
BMI View : A 2-D seismic survey planned across two frontier blocks in western Mongolia could support an increase in domestic oil production if exploration proves successful . Should the planned construction of the country's first refinery occur, a boost in domestic production would contribute to the country's efforts to reduce its heavy and pricey dependence on imports of R ussian refined products .
Petro Matad has awarded the Mongolian geophysical contracting company Khet Co., Ltd the contract for the acquisition of 200km of 2D seismic on Blocks IV and V, in w estern Mongolia. The seismic survey is planned to commence in October 2013 and is expected to take around six weeks to complete.
The seismic shoot is designed to provide detailed coverage of two prospect ive areas previously identified as promising by earlier seismic work. Pe tro Matad hopes that the survey will confirm at least two drillable prospects for a campaign planned in 2014 .
|Booming Economic Growth|
|Mongolia Real GDP Growth (% change year-on-year), 2010-2018|