MOL Group Silver Jubilee of Successful Operations in Pakistan

MOL Pakistan, a leading stakeholder in Pakistan’s energy sector celebrated its 25th anniversary of operations in the country the other day.. The occasion commemorated the company’s role and achievements not only in building the country’s Exploration & Production sector and contributing to its energy security, but also positively impacting the lives of the local communities for two-and-a-half decades. As a fully owned subsidiary of MOL Group, MOL Pakistan plays an important role in its international portfolio, representing 7% of the group’s total hydrocarbon production.

The celebrations were attended by top officials from the government ministries and the oil gas sector. Chief Guest on the occasion Federal Minister for Commerce Jam Kamal Khan lauded MOL Pakistan’s innovative approach, use of advanced technologies, and adherence to international best practices, significantly transforming Pakistan’s oil and gas sector.

Mr. Kamal added “Pakistan is on a path of stability and development, with the energy sector playing a key role. MOL Group’s 25-year legacy reflects a partnership of mutual trust and shared aspirations”.

Mr. Zsombor Marton, Executive Vice President, Exploration and Production of MOL Group while speaking to the audience said “Celebrating 25 years of success in Pakistan as an operator in exploration and production despite all challenges, far away from our Central and Eastern European core region is the proof of strong partnerships we have built with the government of Pakistan and with the local communities, and shows the resilience of MOL Pakistan and the strength of MOL Group’s international operations. Just recently, even after
25 years, in a mature area like TAL Block we were able to secure new discoveries with the Razgir-1 well.

The 25 year milestone reflects the dedication of our almost 500 colleagues and the trust of our joint venture partners in the company’s vision. As we move forward, we remain committed supporting the energy supply security with state-of-the-art technology in Pakistan, furthering innovation, strengthening collaborations, and supporting the socio-economic development of the communities we serve”.

Governor of Khyber Pakhtunkhwa, Faisal Karim Kundi, assured that the province was open to further investments in the oil and gas sector. He emphasized the government’s commitment to going the extra mile to address any challenges faced by companies like MOL Pakistan.

The guest of honour at the ceremony, former Federal Minister for Petroleum Syed Naveed Qamar, highlighted MOL Pakistan’s pivotal role in mitigating natural gas shortages during the early 2010s. He commended the company for ramping up exploration and production activities in the Tal Block, significantly contributing to the country's energy needs at crucial times.

MOL Pakistan has been active in exploration and production in Pakistan since 1999, holding interests in four blocks. It operates the TAL and Margalla blocks, with the Karak and DG Khan blocks as non-operated assets. The TAL Block, straddling Pakistan-Afghanistan border, is the company's primary operated asset, where 33 of 44 drilled wells have been successful, contributing to a gross production of 65 mboepd. MOL holds an 8.4% share, partnering with OGDCL, PPL, POL, and GHPL.

In the Margalla Block, awarded in 2006, MOL and partners POL and Mari Petroleum have drilled two exploratory wells. Since entering the market, MOL has produced over 400 million barrels of oil equivalent, ranking as Pakistan's second-largest oil and LPG producer and fifth- largest natural gas producer. MOL contributes 8% of natural gas, 26% of condensate, and 23% of LPG production, playing a critical role in meeting Pakistan’s energy needs. The evening was concluded with a musical performance of renowned sufi singer Abida Parveen.