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Hungarian MOL and Austrian RAG Cooperate for Exploration and Production in Hungary

Published: October 24, 2011; 15:07 · (Vindobona)

Hungarian MOL (Magyar Olaj- és Gázipari Nyrt.) and Austrian RAG (Rohöl-Aufsuchungs Aktiengesellschaft) have signed agreements to perform activities in the exploration and development of the Inke license south of lake Balaton in Hungary, released MOL.

Hungarian MOL and Austrian RAG Cooperate for Exploration and Production in Hungary / Picture: © Flickr

The license is held by the partners in an equally shared company named MOL-RAG West Kft.

The aim of the cooperation is to ensure further gas and oil production from sources within Hungary and improve the country's security of supply. The cooperation will create opportunities for both partners, allow more efficient exploration and development and stimulate investments in domestic…

This article includes a total of 277 words.

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