Meeting increasing needs: MOL Pakistan to double its investment in K-P
The company also contributes about $1.6 million for the welfare of communities in Pakistan.
The officials of MOL Pakistan informed the CM at the moment two drilling rigs are operational and two more will be installed in Karak and Hangu districts. PHOTO: FILE
MOL Pakistan will double its production of hydrocarbon extractions in Khyber-Pakhtunkhwa (K-P) to help meet the energy shortfall, address low gas pressure and increase revenue.
MOL Pakistan Managing Director (MD) Ferenc Juhasz, Political Adviser to MOL Pakistan Ali Murtaza Abbas and Ambassador of Hungary Istvan Szabo called on K-P Chief Minister (CM) Pervez Khattak at Pakhtunkhwa House, Islamabad on Friday, and made the assurances.
The officials of MOL Pakistan informed the CM at the moment two drilling rigs are operational and two more will be installed in Karak and Hangu districts.
MD Ferenc Juhasz discussed the prospect of increasing the exploration of oil and gas resources and said they would continue to contribute to the improvement of skills and transfer of technology to K-P.
The CM apprised the officials of difficulties faced by the province’s domestic users because of low gas pressure and appreciated the company for investing in the province’s oil and gas sector.
MOL Pakistan’s central processing facility was commissioned on October 28, 2009 in Karak and presently has a processing capacity of 300 million standard cubic feet per day and 6,600 barrel per day of gas and oil, respectively.
In 2013, the company’s discoveries of Mami-Khel 2 and Maramzai 2 gas fields also came online with support from the Ministry of Petroleum and provincial government.
Furthermore, under the banner of The Citizen Foundation (TCF), it has been running three schools in Gurguri, Karak equipped with modern facilities. The company also contributes about $1.6 million for the welfare of communities in Pakistan.
Published in The Express Tribune, December 9th, 2013.