OGDCL, MOL group ink MoU for strate­gic co­op­er­a­tion

Daily Messenger - - Biz -

IS­LAM­ABAD: Pak­istan’s big­gest E&P Com­pany Oil and Gas De­vel­op­ment Com­pany Limited (OGDCL) and MOL Group an­nounced a strate­gic co­op­er­a­tion ini­tia­tive for eval­u­at­ing fu­ture po­ten­tial busi­ness op­por­tu­ni­ties and in in­ter­na­tional up­stream ex­plo­ration and pro­duc­tion.

MOU for strate­gic co­op­er­a­tion was signed by Gra­ham Balchin, Man­ag­ing Di­rec­tor/Chief

Ex­ec­u­tive Of­fi­cer, MOL Pak­istan Oil and Gas Com­pany B.V, on be­half of MOL Group and by Zahid Mir, MD/CEO-OGDCL . The strate­gic co­op­er­a­tion be­tween the two oil ex­plo­ration com­pa­nies en­vi­sions ex­plor­ing op­por­tu­ni­ties jointly in Pak­istan, Mid­dle East, African Con­ti­nent and CIS Re­gion, es­pe­cially the Rus­sian Fed­er­a­tion and Kaza­khstan.

OGDCL is the largest E&P com­pany of Pak­istan and MOL Group in Pak­istan is the largest for­eign pro­ducer of oil and gas. The two oil ex­plo­ration and pro­duc­tion com­pa­nies with a strong fi­nan­cial back­ground have de­sired through this MOU to ex­change tech­ni­cal knowl­edge and in­dus­try ex­pe­ri­ences, al­low­ing for fur­ther dis­cus­sion of po­ten­tial in­ter­na­tional up­stream growth syn­er­gies and pos­si­ble part­ner­ships.

ZahidMuz­zaf­far, Chair­man OGDCL Board hailed the strate­gic co­op­er­a­tion be­tween the two com­pa­nies and stated that it will build a new re­la­tion­ship be­tween OGDCL and MOL Group.

Zahid Mir MD/CEO-OGDCL while giv­ing de­tails of OGDCL’s busi­ness de­vel­op­ment ini­tia­tives com­mented that OGDCL looks for­ward to ex­pand­ing its re­la­tion­ship to E&P op­por­tu­ni­ties in­ter­na­tion­ally, while con­tinue to grow our re­la­tions in Pak­istan.

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