MOL Group endeavours to diversify its hydrocarbon sources. Its exploration and production (upstream) activities serve the vital task of seeking new reserve replacement opportunities in various parts of the world.
This segment contributes to MOL Group cash flows through the exploration, field development, acquisition and production of existing and new hydrocarbon reserves at internationally competitive cost levels.
MOL and its predecessors have been involved in exploration for oil and natural gas since the 1930s. In the past two decades, MOL has developed its international portfolio through the acquisition of assets in Russia, the Kurdistan Region of Iraq, Pakistan, Kazakhstan, India, Oman, Cameroon and Romania. As a result of the acquisition of INA, the portfolio now includes exploration and production assets in Croatia, Syria and Egypt as well.
The source of profitable growth in the upstream segment is the realization of a well-focused international E&P strategy and the successful operation of existing projects. While MOL Group is utilising its experience and high level operational expertise in our current blocks, it aims to identify and exploit new opportunities for further growth in accordance with MOL’s efficiency criteria, in order to achieve our target of increasing the upstream integration of the Group.
Upstream PortfolioThe current upstream portfolio consists of producing assets in 7 countries and assets with further exploration potential in all 12 countries where MOL Group is present.
Worldwide activitiesFor further details of our global operations, please visit MOL Group’s Investor Relations website.
INAINA’s full consolidation has a major effect on our upstream activities.