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MOL JV settles on more than 6 billion rubles

ZMB, a 50-50 joint venture by Hungarian oil and gas company MOL and Russian peer Russneft set up to operate the Zapadno-Malobalyk oil field in Siberia, has settled a dispute in court with Russneft over unpaid receivables worth more than  6 billion rubles, Russian business daily Vedomosti reported on its website.

Russneft agreed to pay ZMB 6.3 billion rubles, including interest of 200 million rubles, over 18 months under the agreement, the paper said. ZMB had originally asked for 6.6 billion billion.

MOL's communications director in Hungary Dóra Somlyai confirmed for MTI that the two companies had reached an agreement in the court. (MTI-ECONEWS)