US operator Genie Energy has grown its oil shaleexploration acreage portfolio in Mongolia aftersealing a deal to explore a large area in the centreof the country.New Jersey-based Genie signed a prospectingagreement with the Petroleum Authority ofMongolia (PAM) for a 25,000sq km area southeastof the capital Ulaanbaatar. The deal means Genienow has exclusive rights to explore for oil shaleover around 60,000sq km in Mongolia.
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