In parallel, MOL has assigned 25% participating interest to Mari Gas Company in its 100% owned and operated Block 43B in Oman.
MOL signed the exploration and production sharing agreement with the Sultanate of Oman in June 2006 for Block 43B. The block is located onshore in north-east Oman with an area extent of 15,232 square kilometers.
According to the company, both blocks are in the first exploration phase with similar planned work program, 2D seismic acquisition in 2008 and drilling of 1-1 well in 2009. The transactions are subject to the approval of the government of Pakistan and the Sultanate of Oman.
Zoltan Aldott, executive vice president of the exploration and production division at MOL, said: One of the basic elements of MOL’s upstream strategy is the portfolio extension through solid partnerships with strong local and international companies. In line with this we agreed with MGCL to arrange a swap on the basis of mutual interests.
