Hungarian oil and gas company MOL Nyrt. (MOL.BU) has signed a cooperation agreement with Austrian peer Rohol-Aufsuchungs AG to conduct joint exploration in Hungary, MOL said Monday.

 
   MAIN FACTS:

-The companies will conduct their activities involving gas and oil exploration and production at the Inke license south of lake Balaton in western Hungary.

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

-The companies said they expect their cooperation to create opportunities, allow more efficient exploration and development and stimulate investments in domestic exploration activities.

-The companies said they are looking for further cooperation opportunities of similar nature in the future.

-Budapest Bureau, Dow Jones Newswires; +36-1-267-0622; budapest@dowjones.com

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