Hungarian oil and gas firm MOL Nyrt. (MOL.BU) and its Romanian partner
Expert Petroleum SRL won licenses for three exploration blocks in
Romania
, MOL
said in a stock exchange filing Monday.
MOL has a 70% stake, and Expert Petroleum has 30% stake in the blocks. The
Ex-1, Ex-5 and Ex-6 blocks are located in western
Romania
's
Pannonia
basin, and take up altogether 3,434 square kilometers.
The first phase of exploration will likely start in 2011, and according to
initial calculations, the blocks have a very good oil and gas potential, MOL
said.
There's
also unconventional potential in the blocks, MOL added.