Located on a structure of about 32 sq km in size, the well is being drilled by the Daqing Exploration and will be drilled to a total depth of approximately 2,500m.
According to the company, drilling of the well will take about 30 days, with completion and testing to be carried out as required.
The N16-1E-1A well is the first exploration well of Ivanhoe Energy’s wholly-owned subsidiary Sunwing Energy on the Nyalga Block XVI.
Ivanhoe Energy plans to drill two wells on two separate structures, with the option to drill up to three additional wells in this initial exploratory program.
Ivanhoe Energy president and chief operating officer David Dyck said that given the results of Ivanhoe’s 2D seismic study, the company is optimistic of the potential to discover oil resources in Mongolia.
