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Hungary’s MOL Keen on Joining Iran Oil Projects

TEHRAN, Apr. 29 (Shana) — Hungary’s state-owned oil and gas group MOL has indicated preparedness to join oil projects in Iran by the adopting enhanced oil recovery (EOR) and improved oil recovery (IOR) techniques, a senior Iranian oil official said.

Following a meeting with MOL deputy chief executive officer, Berislav Gaso, in his Tehran office on Wednesday, Deputy Petroleum Minister in International Affairs and Trading Amir Hossein Zamani Nia said the company has over 70 years of experience in the field.

Zamani Nia who hosted the meeting with the Hungarian energy delegation, which was headed by Janos Kovacs, the Hungarian ambassador, said MOL is keen on establishing long-term partnership with Iranian energy companies.

“Presence and partnership in natural gas export projects in Iran and construction of gas pipelines were the main areas MOL has shown interest to work in Iran,” the official said.

Furthermore, purchase of liquefied petroleum gas (LPG) and partnership in refinery, liquefied natural gas (LNG) and NGL projects are other areas that MOL has indicated readiness to work in Iran, he added.

MOL is operating in oil and gas projects in 33 countries.

The company has also purchased a crude oil cargo from Iran which is being consumed by Hungarian refineries, said Zamani Nia.

Prior to the meeting, the Hungarian delegation met with Managing Director of the National Iranian Oil Company (NIOC) Ali Kardor.

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