We are a strong multinational group providing drilling services and producing crude oil and natural gas in the Czech Republic and in other countries. We run gas storage facilities for natural gas, and we are a leading force on the wholesale market for electricity and gas, as well as the fastest growing alternative supplier in the residential segment.
1/3 our success
EBITDA in 2018*
UGS capacity
customers supplied with gas and electricity
The contours of the Oil & Gas pillar of our business were defined in 1997, when we acquired a share in Moravské naftové doly (MND), an enterprise with traditions dating back to 1913.
2/3 our success
new gas customers
receive our gas
receive our electricity
MND regularly places first as regards the number of new customers in the gas segment. MND currently supplies energy to more than 119,000 customers: over 69,000 receive our gas and over 49,000 receive our electricity.
3/3 our success
revenues in 2018
state-of-the-art drilling rigs
crew utilization
During the 1990s, the drilling and engineering operations of Moravské naftové doly were the responsibility of autonomous divisions. In 1998, MND Strojírenská (later re-named MND Servisní) was established to operate as a subsidiary in charge of providing support to the parent company, MND.
In prospecting for and producing crude oil and natural gas, we exploit deposits to the maximum extent by employing state-of-the-art production methods. MND’s achievements reflect the experience and expertise accumulated by our employees and passed from generation to generation since 1913. We extract crude oil and natural gas not only in the Czech Republic, but also in other European countries.
We are a drilling contractor operating internationally in a number of European countries. We provide comprehensive services in the drilling and workover of exploratory and production wells for crude oil, natural gas, hydro, geothermal energy, and underground gas storage. We operate throughout Europe and rely on a tradition of more than 100 years in the oil and gas industry, during which we have drilled over 6,000 wells in the Czech Republic and in other countries. In recent years, we have expanded to foreign markets, including Austria, France, Germany, Hungary, Poland, Serbia, Slovakia, and Belgium.
MND has storage capacity in excess of 500 million cubic meters. We have been building and operating underground storage facilities since 1999. The first underground gas storage facility (UGS) we opened was a unit in Dolní Bojanovice, the Czech Republic, which was later sold. Another storage facility was built in Uhřice, the Czech Republic, in 2001. The Uhřice UGS underwent an extensive upgrade in 2013 to become one of the most advanced and most flexible storage facilities in Europe. In the same year, we teamed up with the Russian corporation Gazprom to build one of the largest underground gas storage facilities in the Czech Republic, the Dambořice UGS. The facility was put into service in 2016. In 2014, we acquired the Stockstadt and Hähnlein underground storage facilities in Germany.
We are a major player in the European market for gas storage capacity. Commodities traded by MND Trading include gas, electricity, oil, coal, and carbon dioxide allowances. MND Trading pursues a strategy of dynamic international expansion.
We entered the retail segment in 2014. Despite the strong competition on the Czech energy market and customers’ reluctance to switch suppliers, we have built a strong brand. Our own production and focus on monitoring wholesale prices allow us to continue to offer customers advantageous prices.
Worldwide demand for methanol is over 80 million tons per year. Historically, the U.S. has been a net importer of methanol, however current gas price dynamics created an opportunity for increased domestic production. Our company US Methanol will own and operate a portfolio of mid-sized methanol plants, with initial daily production of around 400-500 tons. The company has secured a long-term off-take agreement and will sell its remaining capacity to other consumers in the region.
