Following UK market entry, MOL ties in with five companies

  • Business & Finance

Oil and gas company MOL Energy UK has completed its collaborative partnership process – an approach backed by its Managing Director Chris Bird – following the company’s entry into the UK market last year.

To remind, MOL Group, an integrated oil and gas company with headquartered in Hungary, completed a deal in March 2014 to acquire 14 North Sea licenses from Germany’s Wintershall which resulted in the creation of MOL Energy UK.

In a press statement issued Thursday, MOL said: “Collaboration has become highly topical for those in the North Sea oil industry, as operators and suppliers recognise the future relies on a movement away from competition and towards closer partnerships throughout the value chain.”

“At MOL Energy UK we are clear the path to success lies in adopting a collaborative business model,” says Chris Bird.

“And as a new market entrant, we are in an ideal position to create a corporate culture and values-driven approach that is based on effective collaboration from the start.”

After putting into practice the collaborative process required to meet the certification standard BS11000, as well as undertaking a commercial assessment, MOL Energy UK now has five collaboration partners. They are: Subsurface – AGR Tracs; Wells – SPD – a Petrofac company; Facilities – Woodgroup Engineering; Subsea – Subsea 7; and Hardware – Proserv.

“We are at the start of our journey to overcome the challenges in our current environment and find solutions which will make the basin successful and support government initiatives to attract new investment and maximise economic recovery,” says Chris.

“From the outset the company has made early engagement with potential partners a priority, and our aim is to build long term, mutually beneficial partnerships. I’d like to specifically thank our partners as well as the rest of the supply chain for their willing engagement in this process.”

MOL Energy UK’s Head of Supply Chain and Procurement, Ian Rattray, says the selection process covered the commercial offering, added value, cultural alignment, managing the interfaces between the company and external partners, resourcing, good communication and having a process for managing conflict.

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