Mongolian Ministerial delegation, industry experts seek ONGC collaboration for exploration opportunities www.ongcindia.com
Mongolian Ministerial delegation and industry experts sought collaboration with Oil and Natural Gas Corporation (ONGC) Limited for exploration opportunities in Mongolia. Minister of Mining and Heavy Industry of Mongolia H E Yondon Gelen, Executive Director of Mongol Refinery Dr Altantsetseg Dashdavaa and FR Head of Mongol Refinery Orgil Chuluunbaatar visited ONGC DUB office on 3 December 2021. Mr Gelen said that the collaboration with big players like ONGC is key for the upstream growth in Mongolia.
Representing ONGC in the Mongolia Refinery Meeting were CMD Subhash Kumar, Director (Exploration) R K Srivastava, Director (Technology & Field Services) O P Singh, Director (Onshore) Anurag Sharma and Managing Director of ONGC Videsh Limited Alok Kumar Gupta. CMD Subhash Kumar mentioned that while ONGC and its group companies are spread across the energy value chain, the Maharatna still seeks suggestions and association especially in the area of renewables.
Mr Yondon Gelen said that India and Mongolia has a history of culture and relationship and his visit to India is for the sole purpose to seek partnership opportunities with Energy Maharatna ONGC. He noted that it was astonishing to witness the vast fields of energy sector covered by ONGC and the numbers reflect the capacity of the energy major. Mr Gelen said that Mongolia has vast lands and huge potential of growth in the field of oil and petroleum.
“We have potential geological exploration opportunities and the association with big upstream companies like ONGC will be key for our country’s growth. The Mongolian Parliament has recently passed the Mongolia Refinery Project for energy independence and it is on high priority for us. We seek joint exploration and research in our oil fields,” said Mr Gelen.
Executive Director of Mongol Refinery Dr Altantsetseg Dashdavaa said that refinery projects on the focus in Mongolia and best engineers are being deputed to work on it. She mentioned that the Indian government extending its hand had a huge role to play behind the Mongolian refinery project. Dr Dashdavaa noted that Mongolia needs reliable partners like ONGC for the growth of its energy sector. She asserted that the Mongolian government and industry is taking technical decisions and the capability of the workforce is huge as they are fast-learners.
Dr Dashdavaa said that the legal environment for the energy sector to flourish in Mongolia is also favorable. She stated that the Government Policy for the Development of Petroleum Sector of Mongolia (2018-2027) asserts “to support and protect the investment in petroleum-related activities”. She further mentioned that the government of Mongolia has awarded the Block for petroleum exploration and exploitation to the Mongol Refinery state-owned LLC and has allowed it to carry out exploration activities in cooperation with foreign and domestic entities. “We welcome ONGC to invest in Mongolia and implement our national refinery project,” she added.
Stating that India and Mongolia enjoy good relationship, ONGC CMD Subhash Kumar asserted that ONGC will be looking for upstream opportunities in Mongolia. Mr Kumar noted that the core area of focus of ONGC is majorly upstream areas, however the energy major is willing to collaborate with the Mongol Refinery. “The initial interest should be from both the countries and after that we can plan and arrange visits to explore opportunities,” said Mr Kumar.