Hungary's MOL To Spend $100 Million On Kurdistan Exploration In 2012
December 28 2011 - 3:20AM
Dow Jones News
Hungarian energy group MOL.Nyrt (MOL.BU) is planning to
intensify exploration in the Kurdistan region of Iraq and is
investing more than $100 million there next year, the company said
Wednesday.
MAIN FACTS:
-MOL currently has two rigs operating in the Akri-Bijeel block
found in the Kurdistan region of Iraq.
-The company is planning to establish four new appraisal wells
in the region next year.
-As a result of earlier exploration works between 2007 and 2009,
MOL identified three to five hydrocarbon prospects in the
Akri-Bijeel Block.
-The test results of the exploration wells are expected in the
second half of 2012.
-Budapest Bureau, Dow Jones Newswires, +36-1-267-0622;
budapest@dowjones.com
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