BUDAPEST--Hungarian oil and gas company MOL Nyrt. (MOL.BU) said
Monday that an exploration and production sharing agreement for its
onshore Block 66 in Western Oman has come into effect.
MAIN FACTS:
- the agreement was signed Sept. 9 and became effective Nov. 25
by the issuance of a Royal Decree.
- following the ratification, MOL can start the implementation
of the exploration work program at the block.
- Block 66 is located in the western part of Oman, along the
Saudi Arabian border. It's a desert area of 4,899 square
meters.
- According to preliminary estimates, the total unrisked
prospective recoverable resource potential of Block 66 could reach
200 million barrels of oil equivalent, or MMboe.
Write to the Budapest bureau at budapest@dowjones.com
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