New discovery in Karak Block, Pakistan

MOL has a well-established presence in the country with five blocks and over 15 years of successful operation. This is the 10th discovery since 1999 in 3 different blocks.

Kalabagh-1A ST1 discovery is the Joint Venture’s second success in the Karak block after its first crude oil discovery made at Halini-1 Exploratory Well-1 in 2011. Based on a comprehensive 3D seismic campaign the structure was confirmed as an independent closure at about 8km distance from Halini discovery.

Kalabagh-1A ST1, spud-in on March 20, 2015, has been successfully drilled down to a depth of 3,003 meters. During testing, the well flowed gas & condensate in Datta Formation at a rate of 618 boepd and 160 bblpd, respectively. In the Samanasuk Formation it flowed gas and condensate at a rate of 877 boepd and 180 bblpd, respectively. Finally, the testing of Lockhart Formation flowed commercial quantity of crude oil at 500 bblpd.

Mr. Alexander Dodds, MOL Group E&P, Executive Vice President commented:

“MOL is extremely pleased to announce its tenth discovery in Pakistan. Pakistan is a promising and prospective area with a vast amount of unexplored acreage. MOL Group has always been committed to invest in Pakistan’s oil and gas sector and MOL will subsequently do so in the coming years.”

Mr. Akos Grosz, CFA, Managing Director of MOL Pakistan added:

“MOL is committed to help alleviate the energy deficits of Pakistan by maximizing exploration and enhancing current production through cutting-edge technologies”.

For further information, please contact:

Investor Relations                                                              + 36 1 464 1395

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