BUDAPEST, March 14: Hungarian oil group MOL said it had agreed with Mari Petroleum Company Limited (MPCL) to buy a 30 per cent stake in the Ghauri exploration block in Pakistan.

MOL also agreed to buy a 25 per cent stake in the 43B block in Oman, becoming full owner of that block.

If Pakistan’s government approves the deal, MOL will co-own the Ghauri block with Mari Petroleum Company Limited and Pakistan Petroleum Limited, with the latter both having 35 per cent stakes.

“This increases MOL’s presence in both Pakistan, where we had great success in the Tal block and in Oman, one of the main strategic target areas of MOL Group,” said MOL chief executive Jozsef Molnar.

The Ghauri block is in the first exploration phase and the consortium intends to drill the first exploration well this year.—Reuters

Opinion

A big transition

A big transition

Despite ongoing debates about their success rates, deradicalisation initiatives have led to the ideological transformation of several militants.

Editorial

Stocktaking
Updated 29 Dec, 2024

Stocktaking

All institutions must speak in unison against illegal activities in the country.
Ceasefire mirage
29 Dec, 2024

Ceasefire mirage

THERE was renewed hope that Israel would cease its slaughter for the time being in Gaza as Tel Aviv’s negotiators...
Olympic chapter polls
29 Dec, 2024

Olympic chapter polls

A TRUCE has been reached, ensuring Monday’s elections of the Pakistan Olympic Association will be acceptable to ...
Mixed signals
Updated 28 Dec, 2024

Mixed signals

If Imran wants talks to yield results, he should authorise PTI’s committee to fully engage with the other side without setting deadlines.
Opaque trials
Updated 28 Dec, 2024

Opaque trials

Secretive trials, shielded from scrutiny, fail to provide the answers that citizens deserve.
A friendly neighbour
28 Dec, 2024

A friendly neighbour

FORMER Indian prime minister Manmohan Singh who passed away on Thursday at 92 was a renowned economist who pulled ...