MOL Group owns numerous service companies covering oil field services, asset operations and maintenance management. The Industrial Services business unit was established to provide these services for internal customers across MOL Group in an integrated manner, while aiming to offer them to third-party companies as well.
The strategic goal of Industrial Services is thus twofold: to further increase the quality and level of services provided to internal customers as well as to utilize our vast knowledge to create additional value for external customers.
Moreover, MOL Group is committed to gradually extend its industrial services portfolio and enhance participation and partnerships within these sectors.
“By the formation of the new Group Industrial Services organization our aim is to improve quality level and to provide competitive services towards internal customers. Besides that, we are already on our way, starting with oilfield services, to generate EBITDA from external markets. We are determined to continuously improve and simplify our internal processes.”
Group Industrial Services Vice President
KEY ACHIEVEMENTS IN 2017
- More than 25% overhead cost reduction was achieved at oilfield service companies.
- Maintenance service companies increased the scope of work they perform for our core businesses, resulting in a more cost efficient and reliable asset operation.
OUTLOOK FOR 2018-2020
- Further optimize operations, utilise synergies between the service companies and invest in our existing asset base in order to improve the level of service level offered to internal customers
- Increase business development efforts to expand service portfolio and enter new markets.