BUDAPEST, Oct 31 (Reuters) - Hungarian oil and gas group MOL said on Thursday its wholly-owned subsidiary Kalegran Ltd. officially declared the Akri-Bijeel Block in the Kurdistan region of Iraq commercial based on discoveries made at two oil wells.
MOL is accelerating its work programme, employing additional rigs and planning to submit a field development plan for the whole block by the end of 2014, it said in a statement on the website of the Budapest Stock Exchange. (www.bse.hu)
“MOL is pleased to announce commerciality on the Akri-Bijeel block after recent successful long term tests in our Bakrman discovery,” the statement cited Alexander Dodds, Executive Vice President for Upstream as saying.
Contractors on the block are Kalegran and Gulf Keystone Petroleum International Limited.