MoU on Seismic Survey [Archives:1997/51/Local News]

December 22 1997

A memorandum of understanding was signed on December 17th between the Ministry of Oil and Mineral resources and Mool Hungarian company. According to this MoU, the Hungarian company is to carry out a 1000 km seismic survey, and to dig 4 exploratory wells with a total expense of $10 million. The period of exploration will be 5 years through 2 stages, 3 years for the first and 2 years for the second.