--> Abstract: Mongolia: Petroleum Potential and Current Exploration Activity, by M. C. Nemec and W. C. Penttila; #91012 (1992).

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ABSTRACT: Mongolia: Petroleum Potential and Current Exploration Activity

NEMEC, M.C., and W. C. PENTTILA, Exploration Associates International, Houston, TX

An Oil and Gas Resource Appraisal of the Mongolian People's Republic indicates that the undiscovered (possible) recoverable oil resources are probably more than 5 billion barrels of oil equivalent based on the current limited data. By using the known source rock data with new information about the total sediment thickness within the 13 major basins, the possible oil resources may be significantly higher than 5 billion barrels. The current data also indicate that the size of the largest oil fields within the major basins of Mongolia may be in the 100 to 700 million barrel range.

The significant oil and gas exploration effort was conducted between 1931 and 1969. During this period, two oil fields were discovered in Lower Cretaceous-Upper Jurassic siltstone, sandstone, and conglomerate reservoirs. The Zuunbayan field (discovered 1941) produced about 3.85 million barrels of oil, and the Tsagaan-Els field was in the process of development when the onsite refinery was destroyed in 1969 and subsequent exploration and development ceased. Petroleum exploration activity again resumed in 1989, shortly after Mongolia adopted a policy of political openness.

Mongol Petroleum Company (MGT) offered nine Contract Areas for application in western and south-central Mongolia during 1991 and is proceeding with plans to offer 12 Contract Areas during 1992.

 

AAPG Search and Discovery Article #91012©1992 AAPG Annual Meeting, Calgary, Alberta, Canada, June 22-25, 1992 (2009)