RE: 2026 preparations in hand - Questions for AGM19 May 2026 08:32
This province is where new block is located. Umnugovi
The Department of Minerals and Petroleum and the Office of the Governor of Umnugovi aimag jointly organized a local meeting on the topic of "Current Status of the Petroleum Industry" on May 15, 2026.
The meeting was attended by representatives of the Ministry of Industry and Mineral Resources, the Department of Minerals and Petroleum, the Office of the Governor of Umnugovi aimag, the Governor of the soum, the Chairman of the Khural of Citizens' Representatives, as well as representatives of Methane Gas Resources LLC, Telmen Resources LLC, G.H. LLC, and Petromatad Energy Limited, which are conducting oil and unconventional oil exploration activities in the aimag, and students of the Petroleum Engineering Department of the Technological Institute of Umnugovi aimag affiliated with the University of Science and Technology.
The meeting provided information and exchanged views on the current situation of the oil industry, legal reforms, government policies, and oil and unconventional oil exploration activities underway in Umnugovi aimag.
A draft revision of the Petroleum Law was also presented, and discussions were held on increasing local returns by allocating a certain percentage of royalties to the aimags and soums where the operations are carried out.
Representatives of the soums where the exploration area is located proposed to regularly provide the public with information and news on oil and unconventional exploration activities in phases and to organize an annual work to provide local residents with factual information. In addition, the “Umnogovi Corporation” presented a report on the spending of the “Local Development Incentive” paid by contractors to the Local Development Fund under the Petroleum Law.
O. Erdene-Ornokh, Chairman of the People's Representatives' Assembly of Umnugovi aimag, expressed his support for oil and unconventional oil exploration activities within the framework of the long- and medium-term policies implemented by the government.