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Exploration and Production
MOL Group endeavours to broaden the sources of its raw materials. Its exploration and production (Upstream) activities have 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.
The source for profitable growth in the Upstream segment should be the realization of a focused international upstream growth strategy. This - in addition to the successful operation of existing projects - 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.
Building a focused but robust core portfolio
In the Exploration & Production segment MOL Group intends to triple its hydrocarbon production to 300,000 boe per day and triple the total oil and gas reserves to 900 million boe by 2010 whilst maintaining reserve replacement costs under 6.5 USD/boe.More
Worldwide activities
MOL Group’s upstream operations expands in Central Europe, the CIS countries, Middle East and North Africa.More
Cooperation with INA - An option to expand oil resources
INA has a valuable upstream portfolio. In terms of the domestic onshore operations the decades long geo-technical cooperation in the Drava Basin is currently turning to business partnership. International exploration projects started by the Croatian oil company may lead, at the same time, to expanded oil resources of MOL Group in Syria, Angola and Egypt.More
