OIL & GAS MONGOLIA, 1st Mongolian International Conference on Oil, Natural Gas and Oil Shale will be held in Ulaanbaatar Mongolia on 9th – 10thApril, 2014. More than 400 delegates including Mongolian oil and gas industry authorities, entrepreneurs and investors will participate in the first ever international event on oil and gas industry.
The conference will provide a unique opportunity for investors to get information on resources and prospects of the country’s oil, gas and oil shale and the government policies on this particular sector. Information and know-how on oil and gas exploration, development of oil and oil shale processing factories and the most up-to-date technology of the industry.
The dates of conference is conveniently coincide with the period of Mongolia Mining 2014 – International Mining, Oil and Gas expo taking place from 10th - 12th April, 2014 at the Buyant Ukhaa sports place in Ulaanbaatar and provides conference delegates to visit the technology expo of the conference during their visit to Mongolia. Around 120 international suppliers will exhibit at MONGOLIA MINING 2014 displaying mining, oil, and gas exploration techniques and equipment.
The major objectives of Oil and Gas Mongolia are:
o To provide both domestic and international investors information on oil, natural gas resources of Mongolia;
o To share information on opportunities and potentials of exploring oil shale and extracting oil products from oil shale;
o To promote Mongolian government policies on exploration and processing of oil, gas and oil shale;
o To introduce new legislation of oil and gas and related legal environment of the sector.
Oil and oil shale in Mongolia
Despite the scarcity of exploration data on Mongolia’s petroleum potential, positive geological and geophysical data, reported oil seeps throughout the sedimentary basins and recent discoveries of oil and the geologic similarity (e. g. existence of stratigraphic traps, fault traps, faulted anticlines, over thrust folds etc.) of hydrocarbon basins of Mongolia to adjacent Chinese producing basins indicate the high probability to find substantial petroleum reserves in Mongolia. Mongolia’s true hydrocarbon potential remains unknown. Lack of exploration data does not allow coming up with more or less precise estimation of recoverable petroleum reserves of Mongolia.
American experts estimate it to be from 4 to 6 billion barrels of recoverable oil. However, given the presence of source rocks, good quality reservoir rocks, more seismic data acquisition and geological analyses are necessary to better delineate and evaluate the prospectively of the country. Current results of upstream activities in Mongolia clearly indicate that there are a lot of opportunities for foreign oil companies willing to explore this frontier area.
Oil shale is said to be an alternative fuel source which provides a vast potential for profit to businessmen and entrepreneurs. Although Mongolia hasn’t even fully established its reserves of this possible miraculous mineral, foreign businesses have already begun eyeing Mongolia’s shale deposits. It is estimated that Mongolia has and 800 billion tons of oil shale reserves.