MOL and Turkish Petroleum have signed concession agreements for the exploration of energy resources in Hungary and other regions, strengthening the already existing strategic partnership

MOL and Turkish Petroleum have taken a major step forward by signing concession agreements for mineral exploration in Hungary as part of a strategic partnership that began last year. The agreements cover opportunities in the Caspian region, the Black Sea, North Africa and Central Europe. MOL, Hungary's biggest hydrocarbon producer, has won four out of five recently tendered concessions, strengthening its role in the domestic market. The partnership promises to boost production and reduce dependence on imports.