MOL celebrates 25 years of success in Pakistan
Budapest/Islamabad, 12/12/2024 - MOL Pakistan, a leading stakeholder in Pakistan’s energy sector, is celebrating its 25th anniversary of operations this year, commemorating its prolific 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.
“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 force 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”– said Zsombor Marton, Executive Vice President, Exploration and Production of MOL Group at the anniversary event in Islamabad, Pakistan.
MOL Pakistan has been operating in the field of exploration and production in Pakistan since 1999. The company currently holds working interests in four blocks, operating the TAL and Margalla blocks, while the Karak and DG Khan blocks are the company’s non-operated blocks. First it was granted license in 1999 to explore hydrocarbon resources in the TAL Block, near the Afghan border, which is the primary operated asset of the company. Here a total of 44 wells have been drilled so far of which 33 wells were successful. As the operating shareholder, MOL is responsible for 65 mboepd gross production in the TAL Block. MOL’s share is 8.4 % of the volumes produced and its partners in the joint venture consortium are local oil and gas companies, OGDCL, PPL, POL and GHPL.
The company was awarded the exploration license for the Margalla Block in 2006 where two exploratory wells have been drilled with partners POL and Mari Petroleum.
Since entering the Pakistani market, MOL has produced over 400 million barrels of oil equivalent of hydrocarbons, making MOL Pakistan a key contributor to Pakistan's energy system. Ranked as the country's second-largest producer of oil and LPG and the fifth-largest producer of natural gas, MOL Pakistan plays a vital role in having Pakistan's growing energy needs met. Today MOL contributes 8% of natural gas, 26% of condensate and 23% of LPG production in the country.
