Energy 30 January 2026, 3:41pm

THE MOL GROUP HAS AGREED TO A STRATEGIC COOPERATION AGREEMENT WITH THE LIBYAN NATIONAL OIL CORPORATION (NOC).

Zsolt Hernádi, Chairman and CEO of the Mol Group, and Masoud Suleman, Chairman of the NOC, signed the letter of intent in Budapest.

The strategic partnership agreement establishes a framework through which NOC and Mol can exchange information and explore potential areas of cooperation. These include hydrocarbon exploration and production, technological innovations and field development, and oil industry service opportunities in Libya, as well as crude oil supply and trading.

I am confident that this new agreement will serve as a catalyst for the further expansion of our international portfolio,

said Zsolt Hernádi, the Mol Group's Chairman and CEO.

The Mol Group's international portfolio includes oil and gas exploration and production assets in nine countries, with production in eight of them: Croatia, Azerbaijan, Iraq, Kazakhstan, Russia, Pakistan, Egypt and Hungary. Furthermore, Mol has recently signed cooperation agreements with the Kazakh national oil company (KazMunayGas), the Azerbaijani national oil company (SOCAR), and the Turkish national oil company (Turkish Petroleum). Consequently, Mol will soon begin onshore exploration in the Shamakhi-Gobustan region of Azerbaijan, and joint hydrocarbon exploration with Turkish Petroleum has already begun in Hungary.