Hungary's Oil Company to Join Exploration in West Siberia
Posted on: Wednesday, 21 December 2005, 09:00 CST
Hungary's oil company to join exploration in west Siberia
BUDAPEST, Dec. 19 (Xinhua) -- Hungary's oil and gas company MOL will join the Russian North-West Oil Group (SNZG) in the exploration of Surgutskiy-7 oil field in west Siberia, Hungarian media reported Monday.
The Russian competition office has endorsed the establishment of a joint venture by the two companies for the exploration activities. MOL said they had gained approval from the Russian authorities before launching practical cooperation next year.
The Surgutskiy-7 oil field is estimated to have some 6 million tons of oil reserves, and drillings of the first wells are scheduled for 2007, SZNG reported.
MOL executives confirmed that negotiations were underway with the SZNG on the joint work next year, adding that the company was also looking for other projects in the region.
SZNG won the right for oil exploration and production last April, and has already started geological work at the site in the Khanty- Mansiyskiy autonomous region.
Source: Xinhua News Agency - CEIS
Related Articles
- RAM Energy Resources Intends to Speak at the IPAA Oil and Gas Investment Symposium West
- Carrizo Oil & Gas, Inc. To Make Presentation at The Independent Petroleum Association of America ('IPAA') Oil and Gas Investment Symposium West in San Francisco
- Iraq Raised Oil Exploration to Nearly 800,000 Barrels/D on Average in 2005
- Brazil's Petrobras to Invest 732 Millon US Dollars in Oil Exploration
- CNOOC Teams Up With US Firm in Oil Exploration at Pearl River
- Libya Awards Oil Exploration Rights
- First Offshore Gas Reserves and Pipeline Construction Investments By GE's Energy Financial Services Unit, in Partnership With F-W Oil Exploration
- Syria Signs Oil Exploration Contract With Canada, Kuwait
- Uganda: Oil Exploration Under Way in Country's South
- AFTER years in the doldrums oil exploration and production is all the rage
 |
 |
User Comments (0)
RSS Feeds