NIS explores gas wells in Hungary

The Petroleum Industry of Serbia (NIS) announced in a release on June 18th that it had started drilling an exploration well in Hungary in cooperation with the Falcon Oil&Gas company.

According to that release, it will take 40 days to finish the drilling, after which the well will be explored to assess the extent of gas deposits.

The release also reads that the drilling of the Kutvolgy-1 exploration well in the gas field Algyo in southeast Hungary is being carried out under an agreement on joint exploration of gas fields signed between NIS and Falcon Oil&Gas on 14 January 2013.