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Russia’s Rosgeo to search for oil and gas in Mongolia

Russia is the main supplier of oil and petroleum products to Mongolia

ULAN BATOR, September 3. /TASS/. Russia’s geological holding Rosgeo and the Mineral Resources and Petroleum Authority of Mongolia (MRPAM) have signed a cooperation agreement on mineral exploration.

The signing took place as part of a visit by Russian President Vladimir Putin to the Mongolian People’s Republic, a TASS correspondent reported from the signing ceremony.

According to a Rosgeo statement released after the signing, the agreement provides for cooperation in geological exploration to discover oil and gas deposits, solid minerals, reproduction of basic mineral resources, precious and rare metals, construction and technological materials, and agrochemical raw materials.

Rosgeo and MRPAM also intend to cooperate in the search and exploration of underground freshwater deposits.

The main mineral resources of Mongolia are non-ferrous and rare-earth metals, gold, silver, uranium, coal. Russia is the main supplier of oil and petroleum products to Mongolia.