Hungarian oil and gas company MOL on Wednesday inaugurated a $185 million gas plant in Pakistan in which it is an 8% partner.
The plant, about 230 kilometers from Islamabad, has daily processing capacity of 8.6 million cubic meters.
Pakistani Prime Minister Yusuf Raza Gilani, who officially inaugurated the plant, expressed his thanks for the Hungarian government's support and MOL's activity in Pakistan. The Pakistani government will do its best to ensure that MOL can securely perform its work in the province, he added.
MOL CEO György Mosonyi said exploration and production in Pakistan plays a key role in the company's activity. MOL has committed itself in Pakistan for the long term, he added.
Managing director of MOL's Pakistani unit János Fehér told MTI that MOL had indirectly invested $100 million in Pakistan.
The unit, which employs 350 workers, is the operator of the plant and owns an 8.421% stake in the joint venture.
MOL has conducted exploration in Pakistan's Tal block since 1999 as a partner of Oil and Gas Development Co. Ltd. (OGDCL), Pakistan Petroleum Limited (PPL), Pakistan Oilfields Ltd (POL) and Government Holdings (GHPL). (MTI – Econews)