MOL Magyar Olaj es Gázipari Nyilvánosan Muködo Reszvenytársaság : First gas reached in Rozhkovskoye field, Kazakhstan

Budapest, 22 December 2023

First gas reached in Rozhkovskoye field, Kazakhstan

MOL Plc. ("MOL") hereby notifies the market of the following:

MOL, as part of an international joint venture Ural Oil and Gas LLP., reached first gas from U-21 well in the Rozhkovskoye field, Kazakhstan, as a result of the close cooperation between the Hungarian, Kazakh and Chinese partners. The Rozhkovskoye gas and condensate project is operated by Ural Oil and Gas LLP, a joint venture owned by KazMunayGas, Kazakhstan (50%), MOL Group, Hungary (27.5%), and FIOC, China (22.5%).

The Rozhkovskoye gas and condensate field was discovered in 2008, and after a thorough appraisal and engineering phase, it has been commissioned. The field is located in the West-Kazakhstan Region, 60 kilometers North-East of the town of Uralsk.

The gas and condensate recoverable from the reservoir currently targeted amounts to 158.8 MMboe, of which gas is 101.5 MMboe and condensate is 57.3 MMboe, based on the Kazakhstan State Balance Reserves Report. Out of nine wells drilled as part of exploration and appraisal, five were successfully re-completed for production in 2021. An Engineering, Procurement and Construction contract was signed in April 2022, covering all elements of the gathering infrastructure.

"It's a long-awaited success for MOL in the Caspian region, I am pleased that our Kazakh asset has joined our diverse international production portfolio and represents further potential to MOL's Exploration and Production. A large number of our subsurface experts, engineers and project managers worked tirelessly together with our Kazakh and Chinese partners in the last 15 years to make it happen. I am especially proud that MOL team was an active partner and our experts contributed in all technical aspects of the project," said Zsombor Marton, Executive Vice President of MOL Group Exploration and Production.

The first well commenced production with a rate of 300,000 cubic meters of raw gas per day. Production will be transferred to Chinarevskoye Gas Plant for processing. MOL expects that in the initial pilot phase with one well in production, the Rozhkovskoye field will contribute approximately 1,300 boepd to the Group's production.

Four additional wells will be put into production in the third quarter of 2024 to further boost production to 1.5 MM cubic meters of gas per day. In parallel with completion of Phase 1, the project is moving ahead to ensure timely delivery of planned Phase 2, in accordance with Field Development Plan endorsed by Central Commission for Exploration and Development in 2022. It includes additional recompletions, drilling new wells and expanding infrastructure to handle 2.5 MM cubic meters per day of gas by the end of 2027.

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