The current turbulent situation on the energy market will not fundamentally affect the functioning of MND, a.s., primarily because MND’s business is diversified and built on five main pillars: oil and gas exploration and production, drilling contractor services, underground gas storage and the wholesale of natural gas and electricity, as well as the supply of natural gas and electricity to households and small businesses.
MND Group reacts to current market situation impacted by the COVID 19 pandemic, the long-term fall in oil prices, and the increasing trend in the European Union towards renewable sources and carbon footprint minimisation technology. MND management is working on a new strategy to ensure long-term efficiency and sustainability in surveying and mining, as well as development in the group’s other business areas. MND is making a number of organisational changes with the goal of creating and implementing the new strategy.
According to its annual report, MND a.s. extracted 82 million cubic meters of natural gas and 116 thousand cubic meters of crude oil in 2017. Disclosed data show that MND Drilling and Services (MND DS) drilled 20 wells last year, three quarters of them abroad. The figures underscore the success of the company’s expansion strategy aimed at developing its business as a drilling contractor. The volume of gas and electricity trading grew substantially as well. MND, a licensed trader, traded over gas and electricity worth over 31 billion crowns last year. The MND Retail Division also performed favorably, as the number of gas and electricity customers grew more than 80% in 2017. Currently, MND supplies one of the two commodities to over 92,500 customers. MND is the most preferred new energy supplier on the Czech market.
MND is conducting one of the most extensive seismic surveys in its history on a site near Kyjov in Moravia, where geologists are using state-of-the-art 3D seismic exploration technology to scan an
area of 193 square kilometers in the hope of finding as-yet-undiscovered crude oil or natural gas deposits.