BUDAPEST, Hungary— Zsombor Marton has been appointed as executive vice president of MOL Group Exploration & Production (E&P).
He will lead MOL Group's Exploration and Production business starting Feb. 1, 2023, which is when he will step down as senior vice president of Group Downstream Chemicals and as CEO of MOL Petrochemicals.
Marton has been working at MOL for 15 years in various positions and has vast experience in both management and E&P.
The MOL portfolio consists of oil and gas E&P assets in 10 countries with production activity in eight countries.
Recent offshore updates
According to the company's half-year 2022 results report, production in Croatia was 23.9 Mboe/d in first-half 2022, 6% lower than in first-half 2021. Natural decline and higher water cut across main onshore and offshore oil and gas fields were the reasons for the lower level of production. This was partially mitigated by better well performance after performing well workovers and production optimization efforts on several onshore fields, and additional production from new offshore wells Ika B-1 R Dir and Marica D Dir, the company stated.
As part of the North Adriatic Offshore Development Program, the Ika B-1 R Dir well received its permission to start producing, and the following well, Marica D Dir, was drilled and started trial production, according to the report.
In addition, MOL Group signed an agreement with Waldorf Production Ltd. to sell its shareholding interest in MOL Energy UK Ltd, Molgrowest (I) Ltd., MOL Operations UK Ltd. and MOL UK Facilities Ltd., covering the sale of its entire Upstream portfolio in the UK in late March. The divested offshore assets include MOL’s 20% stake in the Catcher Field, a 50% stake in Scolty and Crathes, and a 21.8% stake in Scott, as well as stakes in a number of other licenses, the report stated.
