ECONOMY
HUNGARIAN COMPANY MOL SIGNS AGREEMENT WITH ESSO EXPLORATION
The Hungarian natural gas company MOL, which is the largest business structure in its country, signed the agreement with Esso Exploration on prospecting of gas in the territory of Hungary. The companies will undertake joint exploration of basins, potentially possessing hydrocarbon reserves. In the last year, MOL obtained 3 million cub meters of natural gas and 857 thousand tons of oil in Hungary. Production level was reduced in connection with the exhaustion of deposits. In the beginning of this year, the Canadian company Falcon Oil and GaS made the estimation of the natural gas deposit in the southeastern part of the country, whose productive deposits are located at a depth of approximately 6,000 meters. If this estimation is approved, this deposit can make Hungary independent in the import of gas from Russia and even exporter. MOL plans to explore similar regions in its sections in Hungary.
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