GWL Cluster Meeting

Thursday, 22nd May 2014; 6:00 for 6:30 pm at the RCA, Crown Lane, Conwy

Mongolia: Frontier Exploration Potential in an Emerging Economy

Abstract:

Mongolia is emerging from the Soviet era with a fast growing economy driven by the mining sector. The country, however, imports nearly 100% of its refined products from Russia, and exports its limited domestic crude production to China. There is a strong need to rebalance this situation as well as to prove up further reserves.

Currently a large number of sedimentary basins have been identified which still have limited or no seismic and few wells. Field work in frontier areas has proven super rich lacustrine oil shales of Upper Jurassic – Lower Cretaceous age interbedded with thick high porosity sandstones. These are stratigraphically equivalent to the proven petroleum system in Eastern and Southeastern Mongolia, as well as in many Chinese basins to the south. There is also an older petroleum system of Permian-Jurassic age proven in many Chinese basins which, although unproven in Mongolia, may also be present from field studies.