ISLAMABAD - MOL group stays committed to Pakistan’s Oil and Gas Exploration and Production sector and continues to invest in the country as its key strategic area of upstream business development, Alexandar Dodds, Vice President Exploration & Production MOL group said here Wednesday.

Dodds was addressing a press conference to brief the media about his first visit to Pakistan in which he met a number of government officials and discussed plans for mutual cooperation. He was accompanied by Jozeph Simoli Chief Financial Officer of MOL Group and Ferenc Juhasz , Managing Director, MOL Pakistan.

Dodds expressed his confidence that MOL Pakistan will be able to further develop Tal Block from where it was already producing 300 MMCFD natural gas and 16000 barrels of hydrocarbon condensate. He indicated that in the near future MOL Pakistan would be able to add another 145 MMCFD gas from the Tal Block to the national network.  

While sharing a backgrounder of MOL Pakistan’s operations in the country since 1999 he said that as operator of TAL Block Joint venture MOL Pakistan had a number of discoveries to its credit and is now a major energy producer in the country. MOL Pakistan also holds concessions for Margala and Margala North Blocks and has working interest in the Karak block and Ghauri block. 

Talking about the security situation in the field area for MOL Pakistan, he said that he had visited the field area and found that MOL Pakistan was working to its full potential and it is coordinating with all the stakeholders. The stakeholder in the region includes the federal government and the provincial government of Khyber Pakhtunkhwa and local communities.

 While responding to a question about expansion and acquisition of blocks in South of Pakistan, Dodds said that MOL looks at such opportunities according to its own technical assessment and in line with the Group’s overall strategy. MOL as a group is always interested in finding new opportunities and for Pakistan the group had an expressed interest in the E&P sector.

Dodds and Juhasz expressed satisfaction over the current Petroleum Policy 2012 and hoped that it will bring more investment into the E&P sector of the country.

MOL Pakistan Oil & Gas Company B.V. a fully owned subsidiary of 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 the local E & P Companies. Presently it is operating TAL Block and Margala & Margala North Blocks. The non-operating Blocks where it has considerable presence are Karak Block and Ghauri Blocks with 40pc and 30pc interests respectively. Currently MOL Pakistan is contributing 8pc of gas and 19pc of crude/ condensate production of the country.

MOL Group is an integrated, independent, international oil and gas company, head-quartered in Budapest, Hungary. It has operations in over 40 countries and employs almost 31,000 people worldwide. The Group operates five refineries and 2 petrochemical units under integrated supply chain management, in Hungary, Slovakia, Croatia and Italy.  MOL Group also owns a network of over 1,700 filling stations in Central & South Eastern Europe in 11 countries. MOL operates a 5,800 km long high pressure gas pipeline system in Hungary. The company also has regional operations in trading and distribution of natural gas. In Romania, MOL owns 137 filling stations and posts good performance in B2B sales, via fuel cards and whole-sale solutions. The corporation signed concession agreements with the National Agency for Mineral Resources for three blocks in Western Romania, one of which has been ratified by all relevant authorities.