MOL eyes further acquisitions

Sep 29, 2014

The UK offshore-focused subsidiary of Hungarian integrated energy company MOL has announced the completion of its senior management team, based in the Aberdeen.

The creation of MOL Energy UK was announced in March this year. Since then the business has made its first acquisition and says it is actively looking for further growth opportunities in the North Sea region.

Image: The MOL Energy UK team. L-R: Steve Kemp, Jonathan Chapman, Chris Bird, Caroline McGovern, Neil Robertson, Paul Lindop.

MOL Energy UK's leadership team's latest members include Subsurface Director Jonathan Chapman (previously of BP, BG, and Centrica), Steve Kemp, who joins as Operations and Technical Director from Centrica, where he led the southern North Sea business unit through a period of significant growth, and Neil Robertson, previously Group Managing Director at SPD, who comes on board as Wells Director.

All three bring with them at least 25 years’ experience in the upstream industry, and will add to and strengthen the trio that managed MOL Energy UK through its initial months: Managing Director Chris Bird, Finance Director Caroline McGovern and Integration Director Paul Lindop.

MOL Group entered the North Sea at the end of last year in a deal with Wintershall to acquire assets in 14 offshore licences. In June, MOL Energy UK (with its partners Premier Oil and Cairn Energy) received approval for the Catcher area Field Development Plan. In the same month, the company completed a sale and purchase agreement with Premier Oil for offshore assets in six further licences.

Completion of the senior management team closes out the first phase of MOL Group’s presence in Aberdeen. Over the coming months and into 2015, MOL Energy UK is looking forward to the successful outcome of its submission to the 28th UK licensing round. It will also proactively be considering further acquisition and partnership opportunities in the North Sea.

Chris Bird, Managing Director of MOL Energy UK, said: “I am delighted that MOL Energy UK has been able to attract such a broad range of knowledge and expertise to join its leadership team. With the team in place, we are now in a great position to exploit future opportunities for growth in the North Sea.”