"Daughter" "Gazprom oil" starts working in Hungary

Serbian oil company NIS, then "Gazprom oil", and the TXM Oil & Gas Exploration Kft. (TXM), a subsidiary of Canadian company Falcon Oil & Gas Ltd., signed an agreement of intent, whereby NIS acquires stake in development project located at a depth of 2.5-3.5 thousand thousand. metres of saturated hydrocarbons sandstone deposits of Al′d′ë (Algyo). This follows from a statement by "Gazprom oil". Licensed to deposit, which is 995 m2. km on the Iacs (Makó) in Hungary, owned by Falkon.

According to the document, the first phase of the joint project of the NIS must compensate for the Falcon historical costs and up to December 31, 2012, at its own expense, carry out drilling and testing three wells in the field, and will be able to receive 50% of extracted oil. The NIS and the CTC will share costs for exploration and development of oil fields in proportion to the shares of participation in the project. The operator will make to CTC.

"Implementing joint with TCM project will contribute to achieving the strategic goal of the company-an increase of up to 50 million tons of oil and gas production to 5 million oil equivalent by 2020," said the NIS Director General Kiril Kravchenko.