CENTRAL EASTERN EUROPE
The Pannonian Basin is the home turf for MOL Group Upstream, having accumulated over 80 years of experience in conventional exploration and field development.
The two core countries of MOL Group (Hungary and Croatia) are adding up the majority of production and the reserves on portfolio level, and operate their assets at remarkably low unit costs. In the last couple of years the Production Optimization Program was in focus in both countries and delivered visible results. The exploration potential of Hungary has been extended recently through successful bid rounds.
MOL Group entered the UK in 2014 by acquiring licences at the UK North Sea from German BASF Group member Wintershall and Premier Oil. The North Sea portfolio was extended in 2015 by acquiring 100% ownership in Ithaca Petroleum Norge from Ithaca Petroleum Ltd in Norway.
MOL UK has a significant production contribution within the international portfolio from its non-operated assets, while MOL Norge targets to develop a new offshore exploration hub and centre of excellence for the Group. MOL Norge currently has 20 exploration blocks (8 operated) on the Norwegian Continental Shelf (NCS) in three core areas, the Northern North Sea, the Southern Viking Graben and the Central Graben South.
MIDDLE EAST, ASIA AND AFRICA
MOL Group has interests in 5 blocks in Pakistan and operates TAL Block, one of the largest gas-condensate blocks of the country. Pakistan is a key contributor of the international portfolio in terms of production and exploration as well. Since 1999 significant results have been achieved in the country as discoveries within three different blocks have been realized, and more than 400 MMboe 2P reserves have been derisked.
MOL Group entered the Kurdistan Region of Iraq in 2007, where currently Kalegran (MOL’s 100% subsidiary) is a minority partner in Shaikan PSC. The Block is currently producing from 8 wells through two production facilities. MOL also acquired 10% in Pearl Petroleum Company (Khormor and Chemchemal fields) in 2009 from Crescent Petroleum and Dana Gas in the Kurdistan Region of Iraq. The Khormor field is currently producing from 6 wells.
THE CIS REGION
MOL Group entered into a strategic partnership with TPAO by divesting 49% of shares in BaiTex in 2014, where MOL Group remained the operator. Baitugan is a compact field with developed infrastructure, which supports low energy and operational costs, and has a significant contribution to the international production. The key focus of the field’s work program is to enhance production level with a high density drilling campaign and workovers.
MOL Group is in partnership with KMG EP and FIOC in its Kazakh operation in the Fedorovsky block, where preparations are ongoing for the Trial Production Project.