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MOL Group Affirmed its Growth Strategy in Russia at the 21st World Petroleum Congress

2014-06-20 / 09:50
MOL Group Affirmed its Growth Strategy in Russia at the 21st World Petroleum Congress

MOL Group actively looks for investment opportunities in Russia. MOL Group CEO József Molnár was keynote speaker of “Sustainable financing of the industry”. 21th World Petroleum Congress (WPC) finished today with participation of 65 countries from all over the world

During the five-day-long conference in Moscow, with the participation of 65 OPEC and non-OPEC countries, covering 95 percent of the world oil and gas industry, MOL Group’s Chief Executive Officer József Molnár joined other leaders to be one of the keynote speakers.

With a strong background in finance, József Molnár spoke to a packed auditorium and delivered a keynote speech on the subject of “Sustainable financing of the industry”. Mr Molnár explained how MOL Group has financed its recent expansion and adapted new strategy in this challenging business environment. During the conference Mr Molnár emphasized, that MOL looks for further investments in Russia.

On a press conference after the plenary session József Molnár, Chief Executive Officer, MOL Group said: “For MOL Group, the Russian upstream market is a great place to invest and we are actively looking for new opportunities to meet our growth targets. We are already conducting some exploration within our existing assets and we very much look forward to positive results”.

There was further involvement from MOL Group within the technical programme, where company experts presented research looking at potential solutions to the problems of overpressure and migration when drilling, as well as how the company has complied with tougher EU legislation on chemicals – all live and potentially costly HSE issues for oil and gas companies in Europe and beyond.

Alexander Dodds, Executive Vice President of Exploration and Production, spoke of MOL Group’s recent successes and expansion plans for the future at the joint stand of the Hungarian and the Slovakian National Committee: “Our aim at MOL Group is to complement exploration with more opportunity development in existing, discovered assets and acquisition opportunities. We need both.”

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