Hungary's MOL Reports Oil Discovery In Pakistan

Reuters

BUDAPEST, June 17 (Reuters) - Hungary's MOL group has made a new oil and gas discovery in Pakistan, its eighth discovery in the TAL block there, it said in a statement on Friday.

"This new discovery has derisked exploration in deeper fault blocks in the TAL block leading to new upside opportunities," said Berislav Gaso, MOL's Chief Operating Officer in exploration.

MOL shares traded 3.3 percent higher at 1051 GMT, outperforming a 1.7 percent rise in Budapest's main index.

(Reporting by Sandor Peto; editing by David Clarke)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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