...

MOL Group’s exploration capex surges

Oil&Gas Materials 23 February 2021 12:08
MOL Group’s exploration capex surges

BAKU, Azerbaijan, Feb.23

By Leman Zeynalova – Trend:

Hungarian MOL Group’s exploration capex (capital expenditure) increased from $94.3 million in financial year (FY) 2019 to $61.4 million in FY 2020, Trend reports citing the company.

The company’s exploration capex in Hungary stood at $26.8 million in 2020, as compared to $16.6 million in 2019. MOL Group spent $7.1 million in Croatia, compared to $6.3 million in 2019, $4.4 million in Pakistan versus $3.3 million in 2019 and $22.1 million in Norway, compared to $94.3 million in 2019.

Development costs stood at $222.1 million in FY 2020, compared to $214 million in FY 2019, including $36.2 million in Hungary, $25.6 million in Croatia, $7.7 million in Kurdistan region of Iraq, $0.2 million in Pakistan, $117.2 million in Azerbaijan and $13.6 million in other countries.

MOL Group is a leading integrated Central & East European oil and gas corporation headquartered in Budapest, Hungary. It has operations in over 30 countries and employs 26,000 people worldwide. MOL’s exploration and production activities are supported by 80 years’ experience in the hydrocarbon field.

The Company’s share capital amounts to HUF 102,428,682,578 represented by 819,424,824 pieces registered ordinary shares of the series “A” with a par value of HUF 125 and 578 pieces registered ordinary shares of the series “C” with a par value of HUF 1,001 and one piece registered voting preference share of the series “B” with a par value of HUF 1,000 that entitles the holder thereof to preferential rights as specified in the present Articles of Association. The "B" series share is owned by the Hungarian government.

---

Follow the author on Twitter: @Lyaman_Zeyn

Tags:
Latest

Latest