Central & SE Asia / Australasia

Mongolia flag
Summary | Profile

Country profile: Mongolia

Location: Northern Asia, between China and Russia
Climate: desert; continental (large daily and seasonal temperature ranges)
Terrain: vast semidesert and desert plains, grassy steppe, mountains in west and southwest; Gobi Desert in south-central
Size: 1564116 sq. km total (Land area: 1554731 sq. km  Water area: 9385 sq.km)
Population: 2,996,081 (July 2008 est.)
Languages: Khalkha Mongol 90%, Turkic, Russian (1999)
Government: mixed parliamentary/presidential
Capital city: Ulaanbaatar
Legal system: blend of Soviet, German, and US systems that combine "continental" or "civil" code and case-precedent; constitution ambiguous on judicial review of legislative acts; has not accepted compulsory ICJ jurisdiction
Currency: togrog/tugrik (MNT)

Country profile

The Mongols gained fame in the 13th century when under Chinggis KHAN they conquered a huge Eurasian empire. After his death the empire was divided into several powerful Mongol states, but these broke apart in the 14th century. The Mongols eventually retired to their original steppe homelands and in the late 17th century came under Chinese rule. Mongolia won its independence in 1921 with Soviet backing. A Communist regime was installed in 1924.

Following a peaceful democratic revolution, the ex-Communist Mongolian People's Revolutionary Party (MPRP) won elections in 1990 and 1992, but was defeated by the Democratic Union Coalition (DUC) in the 1996 parliamentary election. Since then, parliamentary elections returned the MPRP overwhelmingly to power in 2000, but 2004 elections reduced MPRP representation and, therefore, its authority.

Energy production and consumption

Oil Gas
Consumption: 12,000 bbl/day (2005 est.)  
Exports: 821 bbl/day (2005 est.)  
Imports: 12,280 bbl/day (2005 est.)  
Major fields:

Mongolia - recent news

25 Apr 24
Mongolia: Petro Matad announces operational update
Petro Matad, the AIM quoted Mongolian oil company, has provided an operational update. The Company is working with the local government agencies to secure the remaining approvals necessary from Matad District to allow the 2024 operational programme to commence. Preparations are being made to complete the Heron 1 well for production.
18 Jan 24
Mongolia: CGG selected as technical partner to support critical mineral exploration in Mongolia
CGG has been selected by the French government as a technical partner to support the LiMongolia project, a joint initiative by the National Geological Survey of Mongolia (NGS) and the French geological survey, BRGM, to evaluate the regional prospectivity of Mongolia for critical minerals, particularly uranium and lithium.
10 Jul 23
Mongolia: Petro Matad provides update on Velociraptor-1 well results
Petro Matad, the AIM quoted Mongolian oil company, has announced that the Velociraptor-1 exploration well in the Taats Basin of Block V located in central Mongolia reached a total depth (TD) of 1500m and wireline logging has been completed but unfortunately all the reservoirs encountered were water bearing.
06 Jul 23
Mongolia: Jade Gas commences 2D seismic program at TTCBM Gas Project
Jade Gas Holdings has advised that the planned 2D seismic program has commenced at the flagship Tavan Tolgoi Coal Bed Methane Project (TTCBM) in the south Gobi region of Mongolia. The 105km 2D seismic survey covers the Red Lake contingent resource area of 246 bcf.
06 Jul 23
Mongolia: Petro Matad provides update on Block XX certification
Petro Matad has announced that the Mongolian Government has approved the certification of the Block XX Exploitation Area, including the Heron oil discovery, as special purpose land. The certification gives the Company the legal right of access to the entire area for the purpose of hydrocarbon exploration and exploitation.

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