With the approval of the Pakistani and Omani authorities, MOL entered the Ghauri block in Pakistan and increased its stake in Block 43B Oman, the Hungarian oil and gas group announced.
Referring to its previous announcement on 14 March 2013, MOL Plc. has announced late on Thursday that it has received the official approval of the Omani and Pakistani authorities concerning the farm‐out agreements signed with Mari Petroleum Company Limited (MPCL) to acquire 30% interest in the Ghauri exploration block in Pakistan, and 25% interest in the MOL operated Block 43B in Oman. All condition precedents have been fulfilled and the transaction was completed as of today.
The above transactions also indicate that MOL is building up its Upstream focus. In view of the difficulties European refiners are facing this can be hardly called a surprise. For MOL the emphasis is stronger on Oman than on Pakistan, as the former carries a greater potential.
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