Uzma Finds More Heavy Oil Onshore Mongolia

International oil and gas services provider Uzma Bhd, which is spreading its wings in Mongolia, has found more oil at the inner parts of the country with its first venture into new territory of onshore heavy oil. 

Uzma said its growth in the region of inner Mongolia is now imminent with the successful completion of the Baiyin Chagan Da-9 drilling campaign. The wells can produce an estimated 65 million barrels of oil per day. Uzma had initially invested RM4 million in September 2008 to buy 35 per cent of the joint-venture company.