BUDAPEST--Hungarian oil and gas company MOL Nyrt.'s (MOL.BU)
unit MOL Kalegran Ltd., the operator of the Akri-Bijeel block, said
Thursday that it has agreed upon its field development plan with
the Kurdish Ministry of Natural Resources.
MAIN FACTS:
--The field development plan relates to two commercial discovery
areas in the Akri-Bijeel block, the Bijell and the Bakrman
areas.
--The two-phase development program approved on Thursday will
allow MOL Kalegran to best determine key factors such as the
recovery factor.
--An extended well testing facility with 10 mboepd capacity is
already producing without any disruption on the Bijell area and the
Operator intends to add further temporary, rented facilities to
ramp up production from both areas to 35 mboepd in 2015.
--Following the determination of the required amount of wells
and other infrastructure, which will include an export pipeline and
central production facility, MOL Kalegran intends to increase
production from the block to minimum of 50 mboepd by 2017-2018.
Write to Margit Feher at margit.feher@wsj.com
