Brian Glover, Exploration& Business Development at MOL, said it was worthwhile to await five years the ratification of the three agreements.
In 2010, the group won, together with Expert Petroleum, the auction organized in the tenth round by ANRM, for exploration blocks EX-1 Voivozi, EX-5 Adea and EX-6 Curtici. The concession agreement for block EX-6 Curtici was ratified in 2012 and the agreements for the other two blocks were ratified in 2015.
Furthermore, MOL announced the completion of an investment of EUR300 million in expanding the polymer unit in Bratislava (Slovakia), which will start commercial production in the first quarter of 2016. It also said it plans to build a synthetic rubber factory in Hungary, in association with a Japanese company.
MOL operates in over 40 countries and has some 27,000 employees. The group has four refineries and two petrochemical units, in Hungary, Slovakia and Croatia. The company also has some 2,000 gas stations in Central and Southeastern Europe, in 11 countries, of which nearly 200 units in Romania.