RE: DQE31 Mar 2022 12:37
RNS 25th Feb 2022 (extract)
"..DQE International, the major provider of drilling and other operational services in Mongolia, has made a proposal to Petro Matad for a technical and operational cooperation agreement whereby DQE International will provide a suite of services which could include expert geo-technical input, drilling, stimulation and completion services, production operations and oil export for Block XX operations. DQE International supplies these services to its parent company PetroChina, Mongolia's major oil producer, and has more than 15 years of expertise working in the Tamsag Basin. DQE International's suggested cooperation includes the possibility of payment from production revenue, partial payment in oil, and some risk sharing. This is an intriguing proposal from Mongolia's most experienced service provider, and the parties have set up a working group to determine urgently how such a cooperation could work and to try and reach a conclusion early in Q2 so that the 2022 drilling season is available for the implementation of any agreement reached."