Member Info for abzzba

Https://x.com/IndiainMongolia/status/1897565460696121451

On 5 March 2025, Embassy of India Organized a Virtual Meeting between ONGC Videsh Limited (OVL) - a leading global Indian State Company and the Mongol Refinery and discussed various issues of Mutual Cooperation in the field of Oil Exploration. Ambassador HE Mr Atul Malhari Gotsurve, Shri Sanjeev Kumar, Second Secretary, Shri Rajarshi Gupta, Managing Director & CEO of OVL and Other Senior officers of OVL, Dr Altantsetseg, Executive Director of the Mongol Refinery and other senior officers of Mongol Refinery participated in the meeting.

Important new info buried in a sea of BASHER FUD.

To summarise previous posts into one, it appears there may be a new ENTITY on the horizon.

ONGC, India's state-owned oil and gas company, is exploring potential oil and gas exploration opportunities in Mongolia. This interest stems from discussions between ONGC Videsh Limited (OVL) and the Mongol Refinery, with the Indian Embassy in Mongolia actively facilitating these talks. The discussions include collaborations on oil exploration and other mutual interests.

Here's a more detailed breakdown:

ONGC Videsh Limited (OVL):

OVL, the international arm of ONGC, is actively involved in these discussions.

Mongol Refinery: The Mongol Refinery is interested in collaborating with ONGC for oil exploration in Mongolia.

Indian Embassy's Role: The Indian Embassy in Mongolia is playing a key role in organizing meetings and facilitating these discussions.

“””Specific Focus:The discussions are focused on exploring oil and gas opportunities in Mongolia, with a possible partnership for upstream growth.”””

Historical Context: India has been involved in a project to build an oil refinery in Mongolia, with a $1 billion loan from India. This refinery is expected to utilize crude from Mongolian oil fields.

http://www.mongolianbusinessdatabase.com/base/newsdetials?id=27601

https://x.com/IndiainMongolia/status/1897565460696121451

Think i shall wait until after acidization and the well test before calling H2 a failure, it was abandoned after our pre winter shutdown well test returned 30 bopd, marginally commercial, unfortunate but winter in Mongolia means no work between mid November and April, since April Petro China have done their very best to starve us of cash/ working capital, think most with a brain realise this, as for Petro China having plenty of "duffers" i would disagree, they have had an almost 60% success rate in the wells they have drilled, an astounding success in the oil industry where COS is often as low as 20/30%.

There was also good reasons for not progressing with Gazelle, i posted these last week, same with Gobi though these were different reasons, again these were explained 1 or 2 weeks ago.

Just more background info.

https://www.linkedin.com/posts/oilandnaturalgascorporation_ongc-exploration-mongolia-activity-6872449793919086592-aM-N

Espen5, you were previously Espen35, how many accounts do you have ?.

I had pegged Sinopec Dongsheng Petroleum (Mongolia) Co as the front runner JV/buy out favourite, in light of new findings i think i would now see ONGC/OVL as the favourite, HUGE.

PS, BASHERs out doing what BASHERs do, misleading, disrupting and in general spreading FUD !!!, beware.

Personally finding out that Indian oil company with a tie up to Mongolias new refinery are exploring oil and gas opportunities in Mongolia, with a possible partnership for upstream growth is hugely exciting.

Lets face, any partnership certainly would NOT be with a Chinese country, would be a massive kick in the teeth to China if they had ONGC as neighbours in the TAMSAG Basin.

i33, yes these BASHERs cannot let any positive news on the board without countering it.

Question is, if ONGC /OVL do seek Mongolian oil acreage would they want to explore for new field or jump in at the deep end and buy an exosting field, think it obvious Heron field would be their choice, very much doubt the Chinese are selling.

With Mongol Refinery operator being granted special permission to engage in petroleum exploration and exploitation, it signals a clear intention from the Mongolian government to develop domestic oil production rather than relying on imports. If Petro Matad, which already has proven oil discoveries plus drilling and operational experience in Mongolia were to collaborate with Mongol Refinery, it could lead to several key advantages in developing Mongolia’s only untapped oilfield (Heron).

We have now learned that ONGC, India's state-owned oil and gas company is looking for exploration opportunities in Mongolia through its overseas division (OVL), previous post today gave details about meetings held between ONGC and the Mongolian Minister of Mining, given MATADs Heron field is the only known untapped field we know about the possibility of a JV or outright buyout of Heron has to be on the cards.

By establishing this strategically important oil refinery, the national economy of Mongolia will be-come independent from energy imports, and fuel and commodity prices will be stabilized in the country.

Refinery operator being granted special permission to engage in petroleum exploration and exploitation, see link below, towards bottom of page.

https://envoyexcellency.com/mongol-refinery-project/

I also received the same e mail from MATAD.

ONGC Specific Focus:The discussions are focused on exploring oil and gas opportunities in Mongolia, with a possible partnership for upstream growth.

Upstream meaning = In the oil and gas industry, "upstream" refers to the initial stage of operations, encompassing exploration and production (E&P). This includes activities like searching for oil and gas deposits, drilling wells, and extracting the raw materials. Essentially, it's the part of the industry closest to the resource itself, before any processing or distribution

To summarise previous posts into one, it appears there may be a new ENTITY on the horizon.

ONGC, India's state-owned oil and gas company, is exploring potential oil and gas exploration opportunities in Mongolia. This interest stems from discussions between ONGC Videsh Limited (OVL) and the Mongol Refinery, with the Indian Embassy in Mongolia actively facilitating these talks. The discussions include collaborations on oil exploration and other mutual interests.

Here's a more detailed breakdown:

ONGC Videsh Limited (OVL):

OVL, the international arm of ONGC, is actively involved in these discussions.

Mongol Refinery: The Mongol Refinery is interested in collaborating with ONGC for oil exploration in Mongolia.

Indian Embassy's Role: The Indian Embassy in Mongolia is playing a key role in organizing meetings and facilitating these discussions.

Specific Focus:The discussions are focused on exploring oil and gas opportunities in Mongolia, with a possible partnership for upstream growth.

Historical Context: India has been involved in a project to build an oil refinery in Mongolia, with a $1 billion loan from India. This refinery is expected to utilize crude from Mongolian oil fields.

http://www.mongolianbusinessdatabase.com/base/newsdetials?id=27601

https://x.com/IndiainMongolia/status/1897565460696121451

Question is would they want to enter a deal with DQE which would muddy the waters in any buyout of Heron.

The land issue was settled and RNS released on 5th Feb 2025 when Heron was granted "State Special Purpose Land", the first time this has ever happened in Mongolia.

https://www.lse.co.uk/rns/MATD/certification-of-block-xx-exploitation-area-kfsvh3vqi29j5pn.html

When you start looking there is quite a bit of info out there.

http://www.mongolianbusinessdatabase.com/base/newsdetials?id=27601

Https://eoimongolia.gov.in/albumimage/Mzg,

I had pegged Sinopec Dongsheng Petroleum (Mongolia) Co as the front runner JV/buy out favourite, in light of new findings i think i would now see ONGC/OVL as the favourite, HUGE.

See link at bottom.

ONGC, India's state-owned oil and gas company, is exploring potential oil and gas exploration opportunities in Mongolia. This interest stems from discussions between ONGC Videsh Limited (OVL) and the Mongol Refinery, with the Indian Embassy in Mongolia actively facilitating these talks. The discussions include collaborations on oil exploration and other mutual interests.

Here's a more detailed breakdown:

ONGC Videsh Limited (OVL):

OVL, the international arm of ONGC, is actively involved in these discussions.

Mongol Refinery:

The Mongol Refinery is interested in collaborating with ONGC for oil exploration in Mongolia.

Indian Embassy's Role:

The Indian Embassy in Mongolia is playing a key role in organizing meetings and facilitating these discussions.

Specific Focus:

The discussions are focused on exploring oil and gas opportunities in Mongolia, with a possible partnership for upstream growth.

Historical Context:

India has been involved in a project to build an oil refinery in Mongolia, with a $1 billion loan from India. This refinery is expected to utilize crude from Mongolian oil fields.

https://x.com/IndiainMongolia/status/1897565460696121451

Https://oilprice.com/Energy/Energy-General/5-Little-Known-Oil-Giants-Quietly-Shaping-Global-Energy.html

Https://www.facebook.com/ONGCLimited/photos/mongolian-ministry-delegates-industry-experts-visit-ongc-delhi-express-interest-/2665112290301431/