April 23, 2019 Tuesday
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Oil industry
MOL starts producing oil the North Sea area
The Hungarian oil group MOL and its partners have begun oil production in the framework of the Catcher project, located in the UK Central North Sea. First oil from the project where MOL'S share is 20%, was achieved on December 23, 2017.
Diplomacy&Trade online | December 27, 2017

“The Catcher development project is nearing completion on time and well within budget. We are very pleased with the effective hook-up and commissioning, which reflects extensive preparations through-out the construction phase and a well-planned offshore installation program,” Carl K. Arnet, the CEO of BW Offshore that operates the Catcher project, is quoted by subseaworldnews.com.

MOL - with its partners Premier Oil and Cairn Energy - received approval for the Field Development Plan of the Catcher area in 2014. Expected production from Catcher is 96 million barrels of oil equivalent, with a peak production rate of around 50,000 barrels of oil equivalent per day.

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