India's ONGC Would Cooperate with MOL in Third Countries

ONGC, India's largest state-owned oil company, is seeking ways to expand cooperation with Hungarian oil and gas company MOL.

ONGC, India's largest state-owned oil company, is seeking ways to expand cooperation with Hungarian oil and gas company MOL to jointly pursue exploration and production opportunities in third countries, India's The Economic Times (ET) reported on February 8.
According to ONGC plans, the two companies could consider joint bids for oil and gas blocks coming on the market in Central and Eastern Europe, CIS countries and the Middle East.
MOL signed an agreement to acquire a 35 pct interest in a block in India operated by ONGC in 2008. The contract requires approval by the Indian government to go ahead.