Mongolian oil explorer Petro Matad said Wednesday it will resume operations at block XX in eastern Mongolia, Kallanish Energy learns.
The company had to halt operations Aug. 5, due to a land use dispute. The authorities gave verbal approval to resume while the necessary paperwork is completed. Standby costs to-date totaled $150,000.
The drilling campaign started in March, targeting the Heron, Gazelle and Red Deer prospects, with total recoverable resources of 38 million barrels of oil and 48 million barrels of hydrocarbons.
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