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MOL partners with Austrian peer for exploration, production in SW Hungary

Hungarian oil and gas company MOL on Monday said it signed an agreement with Austria's Rohol-Aufsuchungs (RAG) on joint exploration of and production in the Inke concession in southwest Hungary.

The concession is owned by MOL-RAG West, a joint venture owned in equal part by MOL and RAG.

MOL and RAG are looking for further chances to cooperate in similar ways, MOL said.

RAG is involved in exploration and production activities in Austria, Germany, Hungary and Poland.