Bloomberg News

Gazprom Neft’s NIS, Rohoel Start Oil, Gas Drilling in Hungary

February 02, 2012

Feb. 2 (Bloomberg) -- Naftna Industrija Srbije AD, a Serbian oil company controlled by OAO Gazprom Neft, and Rohoel Aufsuchungs AG of Austria began drilling a field in southern Hungary in search of oil and gas.

The exploration work began Jan. 31, six weeks after NIS and Rohoel agreed to split costs and profits from the 2,255 square kilometer (870 square mile) field in the Kiskunhalas region, and they will drill at two locations in 2012, NIS said by e-mail.

The partners will invest 10 million euros ($13 million) on exploration this year and may begin production in 2013, it said.

--Editors: Tony Barrett, Todd White

To contact the reporter on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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