Main Business Activities
- Upstream and Integrated Gas
Shell’s presence in Mongolia is due to legacy upstream assets from the BG Group, which was acquired in 2016. BG Group entered Mongolia in 2015 and holds two exploration licences. Shell is withdrawing from Mongolia and ceased business activities in 2016. Shell completed its exit on February 1, 2017. Liquidation of the company is under way and is currently expected to be completed in 2020.
Country Financial Analysis
The small profit recorded for 2018 is due to the write-off of remaining costs, which is treated as other income. The accumulated loss resulted from the exploration costs incurred by the company for past activities.