Upstream

MOL Group’s diverse upstream portfolio includes a number of assets, covering production in 7 countries as well as further exploration possibilities in 13 countries. In 2010 the Central and Eastern European (CEE) region remained MOL’s core area, with a production increase in the Adriatic offshore overbalancing the natural depletion of onshore fields in Hungary and Croatia. MOL’s strong cash-generation position in the CEE region is supported by rising production levels from Syrian and Pakistani assets. On the international arena, Kurdistan Region of Iraq and Russia remain vital pillars of MOL’s upstream activity, ensured by recent discoveries and field development activities.

Existing operations in 13 countries
Entrance into Romania, as a new country
619 MMboe 2P reserves of MOL Group according to SPE standards as of end-2010
Significant oil, gas and condensate in place addition during the year thanks to our discoveries in the Kurdistan Region of Iraq and Pakistan
Production of 143.5 mboepd

Competitive advantage

MOL Group is without a doubt in a strategic position, both in terms of its geographic position as well as in terms of its upstream know-how. Its location at the heart of Central Europe, along with more than seven decades of oil and gas industry experience, contribute to its role as a key regional energy player. MOL Group’s remarkable exploration success rate of 70% in 2010 (14 discoveries out of the total 20 tested exploration wells) has once again won international acclaim, and its ability to ensure cost-efficient operations has been particularly important in light of the downturn in the global business environment in recent years. As a right sized company, MOL is able to react swiftly to changes, while it is also large enough to offer host countries a sense of stability. The above mentioned factors as well as its team of highly qualified experts put MOL Group in a prime position to maintain its leading role in the CEE region and to strengthen the company’s international standing.