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MOL Signs Agreement for Onshore Exploration Opportunity in Azerbaijan

Summary by Daily News Hungary
MOL Group and the State Oil Company of the Republic of Azerbaijan (SOCAR) have signed key terms for an exploration, development, and production sharing agreement for a new onshore area covering the Shamakhi-Gobustan regions of Azerbaijan, the Hungarian oil and gas company said on the Budapest Stock Exchange on Tuesday. MOL and SOCAR signed an MoU last September to evaluate further potential cooperation opportunities for hydrocarbon exploration i…
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MOL buys around 100,000 barrels of crude oil per month from the deep-sea Shah Deniz gas field in Azerbaijan.

The Mol Group has signed an important agreement with the Azerbaijani state oil company - according to Zsolt Hernádi, economic cooperation between the two countries is becoming stronger.

·Budapest, Hungary
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Table of contents:1. CURRENT REPORT2. MESSAGE (ENGLISH VERSION)3. INFORMATION ABOUT THE ENTITY4. SIGNATURES OF PERSONS REPRESENTING THE COMPANYList of attachments:29_MOL_Azerbaijan_key_terms_20250603_eng.pdf  (CURRENT REPORT) FINANCIAL SUPERVISION AUTHORITY...

MOL may start production in another Azerbaijani oil field, together with the state oil company there. MOL Group and Azerbaijan's SOCAR have signed a new onshore hydrocarbon exploration agreement covering the Shamakhi-Gobustan region ... ...

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Portfolio.hu broke the news in on Tuesday, June 3, 2025.
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