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