The U.S. Embassy in Mongolia, at the invitation of the Ministry of Mining, sponsored a consultative workshop from April 20 – 24, 2015, to consider international best practices in the oil and gas sector and how to incorporate them into the implementing regulations for the Petroleum Law passed last July.
Mohamed Badissy, a U.S. Commerce Department legal expert who specializes in energy issues and Dan McFadyen, former chairman of the Alberta, Canada Energy Resources Conservation Board conducted the workshop.
Participants focused on revenue management and licensing issues. In addition to staff from the Embassy’s Economic and Commercial section, workshop participants included officials from Mongolia’s Ministries of Mining, Industry, and Finance, and the Petroleum Authority, as well as representatives from industry associations and the private sector.
Mongolia is working to build a fair and stable regulatory framework to attract international investors in order to develop its conventional and unconventional petroleum resources.