Hungarian oil and gas company MOL has acquired three new offshore hydrocarbons exploration and exploitation licenses in Norway, thus raising the number of licenses it owns in the country to 20.
Hungarian Minister of Foreign Affairs Peter Szijjarto announced that MOL will invest 500 million dollars in exploration activities in the next five years, adding that the newly acquired licenses hold reserves of more than 750 million barrels of oil equivalent, thus doubling MOL’s global exploration portfolio.
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Tags: exploitation, exploration, gas, Hungary, hydrocarbons, Mol, Norway, oil