Hungary's MOL wins exploration rights in Romania

Hungarian oil and gas group MOL (MOLB.BU: Quote) and its Romanian partner, Expert Petroleum, won exploration rights in three blocks in Western Romania, MOL said on Monday.The blocks cover a total area of 3,434 square kilometres, and each is located in the lowlands close to Romania's border with Hungary, MOL said in a release on the Budapest Stock Exchange web site. "The first working phase of the exploration is expected to start in 2011," MOL said. "According to previous2 calculations, the ...

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