MOL Group has been offered four operator licenses on the UK Continental Shelf.
The licenses were awarded as of the UK’s 28th licensing round. All of the permits have drill or drop well obligations and are located in the North Sea.
The Hungary-based firm has said it will now focus on its capabilities and will seek to define and de-risk licenses in order to progress to drilling stage.
The offer of awards will be confirmed following negotiations between MOL Group and the UK Department of Energy & Climate Change.
The news comes after the company’s recent deal for a £1.5billion revolving credit facility.