Hungary's MOL to invest EUR 8mn in oil blocks exploration in Romania.

By bne IntelliNews October 15, 2010
Hungarian oil and gas group MOL will invest EUR 8mn in exploring three oil blocks located in western Romania, according to the company's head of the exploration and production division Attila Holoda quoted by Bursa daily. The company won the exploration rights for the blocks earlier this year. The contracts are currently being negotiated with the Romanian mineral resources' agency and the EUR 8mn are earmarked for the preliminary exploration works scheduled to start next year. MOL official expects the exploration drilling to start in 2012 and the final outcome of the explorations to be available after another three years.

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