Hungarian oil and gas company MOL Nyrt. (MOL.BU) is concerned about current low oil prices, its chief executive said.

"What we are most concerned with today is the falling oil price," Jozsef Molnar said in an interview published on Thursday with Austrian economic daily Wirtschaftsblatt.

Mr. Molnar added that oil prices won't remain low indefinitely and will increase to between $80 per barrel and $100 per barrel within the next 20 years.

In 2015 MOL has planned investments totaling $2.2 billion, Mr. Molnar said. Of that amount, 60% will be in its upstream business, mostly in Kurdistan. The company has already invested around $700 million in an oil field development in Kurdistan, he said, adding that another $500 million is planned over the next two years.

The Hungarian company's business has remained unaffected by the crisis between Ukraine and Russia. "Up to now there haven't been any delivery interruptions in either gas or oil," Mr. Molnar said.

Website: http://wirtschaftsblatt.at

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