MOL Group, Mari Petroleum sign MoU

BUDAPEST/KARACHI: MOL Group and Mari Petroleum Company Ltd (MPCL) on Thursday announced a strategic cooperation initiative for evaluating future potential business opportunities in the local and international upstream exploration and production sector.

The MoU for strategic cooperation was signed by Dr Berislav Gaso, executive vice president upstream, MOL Group and MPCL MD and CEO Ishfaq Nadeem Ahmad at the MOL Group HQ.

The strategic cooperation between the two petroleum exploration companies envisages exploring opportunities jointly in Pakistan, the Middle East, African continent and CIS Region, especially the Russian Federation and Kazakhstan.

Dr Berislav Gaso said, “We look forward to this new partnership with MPCL for exploring new business potential on the global level.” MPCL MD and CEO Ishfaq Nadeem Ahmad said, “MPCL and MOL Group have a very successful partnership in the Karak joint venture in Pakistan. With the MoU signed today, we look forward to expanding our relationship to E&P opportunities internationally, while continuing to grow our relationship in Pakistan.”