Oil exploration and research
With a vision to fully develop the industrial sector by turning the country’s mineral resources into economic assets and producing import-substituting products, Mongolyn Alt (MAK) LLC has invested a total of 17.2 million USD (60.4 billion MNT) in oil exploration, extraction, and mining sector activities.
MAK company is conducting oil exploration and research activities at the “Tukhum-X” South block entirely with its own funding in phased stages. Currently, geological baseline surveys, magnetic mapping, gravity studies, two-dimensional seismic surveys in prospective depressions, and oil well drilling are underway.
If these exploration efforts prove successful, according to the Production Sharing Agreement with the Government of Mongolia, MAK will have the opportunity to supply raw materials to the newly established oil refinery in Altanshiree soum, Dornogovi province.