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Pakistani minister holds talks with MOL

Pakistan's minister for oil and natural resources Syed Naveed Qamar conducted talks with officials of the Hungarian petroleum and gas company MOL during his three-day visit to Hungary, the business daily Világgazdaság said.

The minister discussed new opportunities ahead of MOL Pakistan with the parent company's management.

Pakistan, which depends on energy imports, wants to increase its own hydrocarbon production and to attain self-sufficiency in hydrocarbons, thus, the country would welcome MOL primarily in this area, but also in other segments of the energy sector in need of development, the minister told the paper. Syed Naveed Qamar said he is confident that MOL's successes in Pakistan will attract other Hungarian firms into the country and hopes that the new government's economic policy will help the two countries' partnership in the energy sector.

The minister also visited the gas storage facility in Szőreg as his country is considering a similar investment, the paper said.

MOL Pakistan produces 9% of the gas and 12% of the crude oil extracted in Pakistan. (MTI – Econews)