MOL Group expands its exploration portfolio in Hungary and Norway
BUDAPEST, Hungary -- MOL Group expanded its exploration portfolio by acquiring new licenses in Hungary and Norway. MOL acquired six new licences in the 4th bid round in Hungary, doubling its exploration acreage in the country. MOL Norge participated in the latest APA licensing round and acquired four licences in the Norwegian Continental Shelf, one of which with operatorship. These successes significantly contribute to the implementation of the MOL 2030 strategy.
MOL has won six new licences in the fourth Hungarian hydrocarbon exploration tender and the concession contracts have been signed by the representatives of the Ministry of National Development and MOL. As a result, MOL can start hydrocarbon exploration on nearly 4,200 km2 in the area of Bázakerettye, Bucsa, Jászárokszállás, Mezőtúr, Okány-West and Zala-West, in addition to the almost 4,200 km2 area covered by mining authority decisions and concessions already acquired.
MOL is targeting both proven exploration plays in Hungary as well as new plays which are the result of our ongoing new Trans-Pannonian basin study.
Separately, it was announced earlier that the Norwegian Ministry of Petroleum and Energy granted four licences to MOL Norge on the Norwegian Continental Shelf at the 2016 APA (Award in Pre-Defined Areas) licensing round, including one with operatorship. MOL has been granted operatorship in an additional position in the Mandal High Area, one of MOL Norge’s core areas in Norway. The partners in the new operated licence include Statoil and Petoro AS, the leading national oil and gas companies in Norway. MOL has also successfully joined three licenses operated by Aker BP.