October 31, MOL Group closed the acquisition of 50% shares of their joint venture NWOG-MOL LLC from the North-West Oil Company, MOL informs according to AK&M.
Having bought the stake in NWOG, MOL became a 100% owner of NWOG-MOL.
The North-West Oil Group-MOL (NWOG-MOL) holds a license to develop Surgutsky-7 massif in Western Siberia. The massif is situated some 10 km from the Western-Malobalykskoye field, where MOL carries out oil development activities under the joint venture with Russneft OC. The exploration area is 330 square meters and is surrounded by some large fields with total reserves of 15-75 mln tons.
The exploration period will take 4 years, the development period will be 18 years.
MOL (MOL Hungarian Oil and Gas) is Hungary's largest oil and gas company.
Having bought the stake in NWOG, MOL became a 100% owner of NWOG-MOL.
The North-West Oil Group-MOL (NWOG-MOL) holds a license to develop Surgutsky-7 massif in Western Siberia. The massif is situated some 10 km from the Western-Malobalykskoye field, where MOL carries out oil development activities under the joint venture with Russneft OC. The exploration area is 330 square meters and is surrounded by some large fields with total reserves of 15-75 mln tons.
The exploration period will take 4 years, the development period will be 18 years.
MOL (MOL Hungarian Oil and Gas) is Hungary's largest oil and gas company.