Hungarian oil and gas company MOL has reported that it plans capital investments next year amounting to 357 billion Hungarian forints (1.98 billion dollars). The planned amount still needs to be approved by the MOL board at a meeting in mid-December, according to a presentation published on the Hungarian company’s website.
The budget for capital investments, however, remains under strict control due to the recession in the economy, further emphasizes the presentation. In the production and exploration segment, MOL plans to direct capital investments towards the development of the Hayan exploration block in Syria, as well as the development of wells in its home country of Hungary and Russia, and in the Croatian seabed. In the refining and marketing sector, investments will primarily be directed towards improving refining activities in Croatia’s INA and the Italian refinery in Mantova. In Croatia, MOL also plans to invest in transit connections in the gas and electricity segment. (H)
