DOCUMENTS FOR THE ANNUAL GENERAL MEETING

MOL Plc. Annual General Meeting 2013 Documents
well. The Gulak-1 exploration well’s test program was completed
but, due to the limited volume of oil shows, the well will be
suspended. Surface facility construction and commissioning of
the Bijell Extended Well Test on the Bijell Appraisal is ongoing.
The appraisal program of the Bijell-1 discovery started with the
Bijell-3 appraisal well, which was the riskiest from a geological
point of view. There was no measurable oil flow thus it is
proposed to abandon the well. Our extensive appraisal program
continued and the Bijell-7 appraisal well was spud.
- In the Shaikan Block, appraisal and the early development
program were executed, the appraisal activity finishing when the
Shaikan-6 well test was completed. To reach the ultimate goal of
significantly increased production, assembly work on the first
Shaikan production facility commenced.
In Kazakhstan
- In the Fedorovskoye Block, testing of the U-23 appraisal well
was finished successfully; the well produced gas and condensate
from additional reservoirs. The drilling of the U-26 appraisal
well started in October.
- The agreement to acquire a 49% share in the North
Karpovskiy block, located in the vicinity of Fedorovskoye, was
completed in November. Drilling of the first exploration well, SK-
1, commenced in Q3 2012 and was ongoing at year end.
In Pakistan testing of the Mami Khel-2 and Maramzai-2 wells
was successfully finished; the wells were completed as gas and
condensate producers and were tied in to the early production
facility. Within the scope of development work a new
production well was started and another well was tied in to the
central processing facility.
In the CEE, the main result of our exploration activities was the
aggregated 5 000 boepd discovery during 2012 from two
Croatian and seven Hungarian wells.
Licences acquired in 2012
After MOL was awarded an exploration concession in 2011 in the
Oman 66 block, an exploration and production sharing agreement
was concluded with the Omani Government in September 2012. As a
result, MOL can now start implementing the exploration program at
the block by acquiring seismic data to define drillable prospects.
In Russia, the Yerilkinskiy block was acquired by BaiTex LLC, a 100%
subsidiary of MOL Group, at auction in July, 2012. The Yerilkinskiy
block is located close to the Baitugan producing oilfield. Strong
operating synergies will accrue since main surface facilities already
installed at Baitugan are ready to serve future Yerilikinskiy
production. As a first step, our future exploration commitments
include acquisition of seismic data.
MOL was already expanding its exploration and production activities
to build a broader portfolio in the CEE when the Romanian Ex-6 Block
was awarded to a consortium in which we participate. Exploration
activities will start with 3D seismic acquisition. In January 2013, MOL
increased its stake in the Ex-6 Block to 100%.
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