Petro Matad Expects to Complete 3D, 2D Seismic Work in Mongolia by January
October 24 2017 - 4:41AM
Dow Jones News
By Adria Calatayud
Mongolian oil explorer Petro Matad Ltd. (MATD.LN) said Tuesday
that it expects to complete 3D, 2D seismic work in its blocks IV
and V in western Mongolia before the end of January 2018.
The company said it has signed a contract with BGP Inc., a
division of state-owned China National Petroleum Corporation
(CNPC.YY), for the seismic campaign, while processing of both the
3D and the 2D data has been contracted to Western GeCo, a division
of Schlumberger Ltd. (SLB).
Preliminary mobilization and camp construction is underway
allowing to immediate preparatory work to begin, Petro Matad said.
Both the 3D and 2D programs are focused on finding prospects for
potential drilling targets for the 2018 and 2019 operational
seasons, the company added.
Shares at 0755 GMT were up 0.25 pence, or 3.8%, at 6.88
pence.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
October 24, 2017 04:26 ET (08:26 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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