Hungarian oil and gas company MOL has signed farm-out agreements with the Mari Petroleum Company to acquire a 30% stake in the Ghauri block in Pakistan and a 25% stake in block 43B in Oman, MOL announced last week. Mari Petroleum and Pakistan Petroleum Limited each own a 35% stake in the Ghauri exploration block, where new 30% owner MOL and these companies plan to drill the first exploration well in search of expected oil and gas later this year. MOL owns 100% of block 43B in Oman following the agreement with Mari Petroleum. This well, where the drilling of the first exploration well is currently underway, is expected to produce test results in the third quarter of this year. The transactions are subject to approval from the governments of Pakistan and Oman.
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