LAHORE -  MOL Group, one the major operators in the exploration and production sector with sizeable discoveries in TAL Block, is expanding its global presence by acquiring new concessions in different parts of the world.

In what comes as rapid expansion of its prolific portfolio, MOL Group has acquired new licenses in Hungary and Norway. These successes significantly contribute to the implementation of the MOL 2030 Strategy.

MOL has won six new licences in the fourth Hungarian hydrocarbon exploration tender and the concession contracts have been signed by the representatives of the Ministry of National Development and MOL. As a result, MOL can start hydrocarbon exploration on nearly 4,200 square kilometres in the area of Bázakerettye, Bucsa, Jászárokszállás, Meztúr, Okány-West and Zala-West in addition to the almost 4,200 square kilometres area covered by mining authority decisions and concessions already acquired.

MOL Pakistan Oil and Gas Company, a subsidiary of the internationally known MOL Group is operating in Pakistan since 1999. MOL Pakistan has a very successful track record of operations in Pakistan where it has operated as well as non-operated joint ventures with local companies.

The Norwegian Ministry of Petroleum and Energy granted four licences to MOL Norge on the Norwegian Continental Shelf at the 2016 APA (Award in Pre-Defined Areas) licensing round, including one with operatorship.

MOL has been granted operatorship in an additional position in the Mandal High Area, one of MOL Norge’s core areas in Norway.

The partners in the newly-operated licence include Statoil and Petoro AS, the leading national oil and gas companies in Norway. MOL has also successfully joined three licenses operated by AkerBP.