Petro Matad to start 2D shoot in Mongolia
The Mongolia-focused player said on Monday it had awarded the seismic acquisition contract to local geophysical contracting company Khet Co, which completed a previous 2D shoot for Petro Matad in 2011.
The survey is expected to take about six weeks and will cover two prospect areas identified from earlier seismic.
Petro Matad is anticipating the new data will confirm at least two locations for drilling next year.
“The geology of Western Mongolia is similar to that found in the Junggar and Turpan basins of China to the south, both of which are prolific hydrocarbon production areas,” Petro Matad exploration director Ridvan Karpuz said in a statement.
“To date there has been no drilling in the similar basins in Mongolia,” he said.
In addition, Petro Matad said discussions were ongoing with certain unnamed international oil and gas companies regarding the potential farm-out of Blocks IV and V, as well as the company’s other Block XX.
The company while there was no certainty as to the outcome of the discussions, the seismic programme was in line with the continuing discussions.
The survey is expected to take about six weeks and will cover two prospect areas identified from earlier seismic.
Petro Matad is anticipating the new data will confirm at least two locations for drilling next year.
“The geology of Western Mongolia is similar to that found in the Junggar and Turpan basins of China to the south, both of which are prolific hydrocarbon production areas,” Petro Matad exploration director Ridvan Karpuz said in a statement.
“To date there has been no drilling in the similar basins in Mongolia,” he said.
In addition, Petro Matad said discussions were ongoing with certain unnamed international oil and gas companies regarding the potential farm-out of Blocks IV and V, as well as the company’s other Block XX.
The company while there was no certainty as to the outcome of the discussions, the seismic programme was in line with the continuing discussions.
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