Introducing Mongolian oil potential and prospective oil estimation in block A

초록

Mongolia’s sedimentary basins of oil are divided into 31 exploration blocks. As of now, Petroleum Authority of Mongolia (PAM) has concluded Production Sharing contract (PSC) with 18 national and foreign companies on 23 exploration blocks in addition to 6 PSCs on exploration blocks are being under Government Review, 1 exploration block is in process of bidding and 1 block has been relinquished. Mongolian proven oil reserves totals to 2.4 billion barrels, and it is just beginning. Current potential can put Mongolia at 34th, in the “Top counties list with proven oil reserves” on par with larger producers like Colombia, Argentina and Gabon. Prospective oil estimation report is done at “Y” and “X” sub-basins of “Block A” in eastern Mongolia.