Petro Matad is a group focused on oil exploration, as well as potential future development and production in Mongolia. The Group’s assets consist of Production Sharing Contracts (PSCs) over the following exploration blocks:
- Matad Block XX, with an area of 10,340km2 in the far eastern part of Mongolia near the Chinese border
- Bogd Block IV and Ongi Block V, adjacent to each other in west central Mongolia totalling approximately 50,000km2
While the Group possesses the largest fully licensed acreage position in Mongolia, as compared to other operators, it will continue to seek, as appropriate, new opportunities in the oil sector of Mongolia and to participate in the exploration and development of those areas.