MOL Pakistan operations
MOL Pakistan, a fully owned subsidiary of MOL Group (www.molgroup.info) and has been working in Pakistan since 1999.
Currently, it is led by Managing Director/Chief Executive Officer, Dr. Gábor Vakarcs w.e.f. 1st June 2018, 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. Dr. Gábor Vakarcs joined MOL in 1987 as a Geologist and has been working as the Chief Geoscientist in the Group E&P QA/QC team since 2016. During his 20 years with the company, he has held several managerial positions in exploration in Tunisia, Pakistan and Oman.
MOL Pakistan is engaged in extensive exploration and production activities. It is the operator of TAL and Margala blocks and is currently producing Oil & Gas from TAL block. It has its shares in Karak Block as a non-operating partner which is considered as another promising block. Recently, MOL Pakistan has farmed-in, in DG Khan as a non-operating partner with Pakistan Oilfields Limited (POL).
Apart from its operations in the Khyber Pakhtunkhwa province, MOL Pakistan is actively pursuing acquisition of interests in the provinces of Punjab, Sindh & Balochistan. It holds an exploration area of around 8510.53 sq.km in various operated and non-operated blocks whereas it has 658.68 sq.km acreage of the D&P lease area in its operated TAL Block. Till December 2018, MOL Pakistan has managed to drill 23 exploratory wells, 7 appraisal wells and 16 developments wells in the Operated & Non-operated blocks.
MOL Pakistan has 9 discoveries to its credit in the operated block of TAL, namely Manzalai, Makori, Mamikhel, Maramzai, Makori East, Tolanj, Mardankhel-1, Makori Deep-1, Tolanj West and 3 discoveries in non-operated blocks namely Halini, Kalabagh and Halini Deep.
Key Facts about MOL Pakistan
- USD 305 million foreign direct investment in Pakistan by MOL (June 2016)
- Nine consecutive discoveries in the TAL Block
- Largest producer of LPG (505 Tons/day)
- Second largest producer of crude/condensate in Pakistan
- Exploration Drilling Success rate 53%
- Overall Drilling Success rate 57%
- Around 400 Employees
- MOL Pakistan has successfully executed community development projects in its area of operations.
MOL Pakistan is always active for further investment opportunities in Exploration and Production (E & P) sector of Pakistan through involvement in further exploration blocks and acquisition of state owned upstream/downstream opportunities available for privatization. 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.