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An oil filed in Mongolia on sale

  Project No:CP2020BJ1000159
  Name of Transferor:BVI
  Name of subject matter:An oil filed in Mongolia
  Floor price of transfer:RMB0.49billion 
  Transaction Mode:Listing
  Listing Beginning time:2020-03-19
  Listing ending time:2021-03-18
  Project Introduction:Block XI of Zong Heng You Tian is located between 107°44′-108°14′E and 43°13′-43°35′N, closing to Gants-maod port in Inner Mongolia with a straight-line distance of only 120km and a transportation distance of about 200km.The total area of the block in the contract is 11,262.82 square kilometers.About 85% of the area of Block XI is inside the Omnoegovi Province of Mongolia, and the rest 15% in the east part is inside Dornogovi Province. The Block is mainly located to the east of Oyutolgoy of Omnoegovi Province, to the south of Manlai, to the west of Khatanbulag of Dornogovi Province. The biggest town inside this Block is Khanbogd.
  Mongolia has no petrochemical industry, and all refined oil is imported from China and Russia. To change the situation, Mongolia plans to build a 1.5-million-ton refinery in  Dornogovi Province, with international aid, and schedules to start production in 2023. At present, the annual production capacity of the development blocks in Mongolia is total 1.05 million tons (Tamuchag 1 million tons, Dongsheng 50,000 tons). In order to achieve the national strategy, the Mongolian government has taken the Zong Heng You Tian as the most promising key object to fill the crude oil supply gap of refineries, and has repeatedly requested local governments to provide comprehensive policy assistance to the Zong Heng You Tian in order to speed up the exploration and development of the oil field.
  In April 2018, Mongolian Prime Minister Khürelsükh visited China and met respectively with President Xi Jinping and Premier Li Keqiang and other national leaders to reach a series of important consensus. Mongolia is willing to actively promote the integration of Mongolia's "road of development" strategy and China's "the Belt and Road" initiative, promote trade facilitation between the two countries, and take China-Mongolia economic and trade pragmatic cooperation to a new level.Subsequently, Prime Minister Khürelsükh visited bayannur City and signed the Memorandum of Cooperation between the Omnoegovi Province of Mongolia and Bayannur City , and returned to Ulaanbaatar through the Gants-maod Port. He is full of expectations for the development of resource projects and bilateral cooperation in Mongolia's Omnoegovi Province, including Zong Heng You Tian and Oyu Tolgoi.