MOL Group is a leading integrated oil and gas group in Central and Eastern Europe headquartered in the heart of the continent, in Budapest, Hungary. MOL Group is the market leader in each of its core activities in Hungary and Slovakia and is one of the most efficient Upstream and Downstream players in Europe on per barrel basis with annual turnover of more than US $20 billion.
Today, MOL Group has operations across three continents in more than 40 countries and its shares are listed on the Budapest, Luxembourg and Warsaw Stock Exchanges and the DRs traded on London's International Order Book and on OTC in the US. MOL Pakistan, registered in Netherland, is a fully owned subsidiary of the MOL Group, has been working in Pakistan since April 1999. It's registered Branch Office was opened in Islamabad in May 1999.
Currently it is being led by Janos Feher, Managing Director/CEO who brought a wealth of international experience in exploration and production projects from across the globe to ensure that MOL Group achieves its desired position and long-term goals in Pakistan.
MOL Pakistan acquired first Petroleum Exploration License (TAL Block) in 1999, where previous works were performed by AMOCO and OGDC. TAL Block is in the North West Frontier Province (NWFP), spreading over the areas of districts Kohat, Karak, Hangu and Bannu of NWFP and some areas of North Waziristan and Orakzai agencies of Federally Administered Tribal Areas (FATA). As an Operator of TAL Block, MOL Pakistan has marked 4 successive discoveries during past 10 years of extensive exploration. MOL Pakistan operation is among the greatest successes of MOL Group in the international upstream. At Manzalai field, being the first discovery in TAL Block discovered one of the largest gas reserves in Northern Pakistan, about 1.8 TCF of Gas and Oil reserves about 28.35 MMBBL.
Makori being the second major discovery in the block has been declared commercial on September 30, 2009. Gas reserves in Makori are about 0.7 TCF and Oil reserves are 27.89 MMBBL. Third and fourth discoveries at Mamikhel & Maramzai are currently under the appraisal phase.
Production from the Manzalai Central Processing Facilities (CPF) in Manzalai Development & Production Lease area has been started on October 28, 2009. At present, production from Manzalai field is around 155 MMSCFD gas and 3,5000 barrels per day of condensate which will be increased to 250 MMSCFD gas and 4,200 barrels per day of condensate by December 2009; this will enable MOL Pakistan alongwith TAL Joint Venture Partners to cater more than 75% energy requirements of the NWFP.
Tal block is a prominent example of organic growth in the history of MOL Group International E&P in Pakistan, starting from early exploration through the development phase and just recently entering the commercial production phase. So far, TAL Block has shown reserves of around 2.5 TCF of gas and 56.24 MMBBL of oil from Manzalai and Makori fields, whereas, Mamikhel and Maramzai are under appraisal.
MOL Pakistan is also the Operator of Margala and Margala North Blocks located in the area of the Federal Capital and parts of the Punjab and NWFP. In 2007 MOL Pakistan had farm-out of 30% working interest to Pakistan Oil Fields (POL) in both Margala & Margala North Blocks. Currently, seismic and G&G work is in progress and a wild cat well is planned in 2010.
Furthermore, MOL Pakistan signed an Assignment Agreement with the Mari Gas Company Limited (Operator) during 2008, to acquire 40% non-Operating working interest in Karak Block situated in the NWFP, which is considered as another promising prospect for the future discoveries. MOL Pakistan has already drilled a total of 15 exploratory, appraisal and development wells and further plans to drill more exploration and appraisal wells are in place.
MOL Pakistan is always on the look for further investment opportunities in Exploration and Production (E & P) sector of Pakistan through involvement in Exploration Blocks and acquisition of state owned upstream/downstream opportunities available for privatisation. MOL Pakistan sincerely believes that its E & P skill inventory gathered over the period of time can positively contribute towards the self-sustainability of Pakistan's energy needs.
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