Petro Matad

Published on 05-01-2018 14:21:05

Petro Matad, the Mongolian oil explorer is pleased to announce that its Block XX Production Sharing Contract (PSC) has been formally extended by the Mineral Resource and Petroleum Authority of Mongolia (MRPAM) for a further two years, to 4 July 2020.

Mike Buck, CEO of Petro Matad, commented: “This is a very positive development and again indicates the support for Petro Matad within the relevant government departments in Mongolia. It is also significant in that Block XX contains considerable prospectivity close to Petro China’s production infrastructure which is in operation immediately to the North.”

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