Mongolia’s oil production increased nearly 2% following AIM-listed Petro Matad bringing a second well online at its Oyut Ukhaa South Block in October.
This boost reflects successful field development strategies and enhanced extraction technologies aimed at optimizing output. The company plans further drilling campaigns in the region to sustain growth and capitalize on rising domestic and export demand. Industry watchers see the development as a positive sign in Mongolia’s nascent upstream oil sector.
