MOL Pakistan operations

Intro:
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.

Operations:
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.

Future:

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.