Petro Matad gets conditional development support from Mongolia authorities

Mon, 10th May 2021

Oil company Petro Matad said it had received the conditional support of authorities in Mongolia related to its Block XX development plan. The country's Mineral Resources Professional Council concluded that it supported and would approve the plan once certain technical clarifications were provided and any necessary amendments made. Petro Matad said said the items requiring clarification had been received from MRPC. 'With the recent relaxation of lockdown restrictions in Mongolia, the company is now in discussion with MRPC's designated officials to clarify the points raised in order to secure MRPC written approval of the plan of development,' it added. Story provided by StockMarketWire.com

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