MOL's capital spending in Azerbaijan tops $123 million in 2025

Hungarian oil and gas company MOL spent $123.3 million on hydrocarbon exploration and production projects in Azerbaijan in 2025, down 0.4% from the previous year, according to the company"s annual data cited by Report.

Of that total, $109.5 million went to development, $8.7 million to exploration, and $5.2 million to other expenses.

Globally, MOL's capital expenditures across its projects - spanning Hungary, Croatia, Iraq's Kurdistan region, Pakistan, Azerbaijan, and others - reached $385 million, up 24.8% from 2024. Development accounted for $206 million, exploration $46.8 million, and other costs $55.8 million.

Azerbaijani projects represented 32% of MOL's total capital spending during the period.

MOL currently holds a 9.57% stake in the Azeri-Chirag-Gunashli development project and 8.9% in the Baku-Tbilisi-Ceyhan pipeline. On December 17, 2025, SOCAR and MOL Group signed a production-sharing agreement for the onshore Shamakhi-Gobustan exploration and production block in Azerbaijan. MOL is the operator with a 65% share, while SOCAR holds 35%.

The Hungarian group operates in eight countries and maintains active upstream interests across nine nations.