Hungary's MOL To Invest $1bn Every Year
- 14 Jan 2014 8:00 AM
MOL plans to invest about $1 billion a year to expand both output and exploration, the energy company’s exploration and exploitation director Alexander Dodds told Reuters news agency in an interview.
Daily oil production will fall to around 103,000 barrels this year, from 106,000 barrels in the first nine months of 2013, and 120,000 barrels in 2012, he said, largely due to decreased oil production in Hungary and Croatia.
The 2014 estimate does not include the recent North Sea acquisition nor possible other acquisitions to be made this year, Dodds noted.
Source: Hungary Around the Clock
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