BAKU, Azerbaijan, June 3. MOL Group is optimistic about soon reaching a significant milestone in the development of the Shamakhi-Gobustan project, said Adam Homonnay, Senior Vice President for Exploration and Production at MOL Group, in his speech at the Baku Energy Forum, Trend reports.
"We recently celebrated five years of our partnership in developing the Azeri-Chirag-Gunashli (ACG) block. We remain committed to exploration activities in Azerbaijan. Last year, we signed a memorandum of understanding (MoU) with SOCAR on exploration for the Shamakhy-Gobustan project, and we are actively advancing this work. We hope to reach a new important stage soon," he said.
Homonnay also highlighted the prospects for further evaluation of the ACG block’s potential, especially in areas unrelated to associated gas. For MOL Group, partnerships are of paramount importance.
"In addition to Azerbaijan, we have MOUs with Kazakhstan, where we have assets under development, and with the Turkish Petroleum Corporation (TPAO), with which we recently closed a deal. Together, we participated in a tender in Hungary and secured two licenses. This marks TPAO’s first entry into geological exploration in Hungary," he added.
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