“The group wants to clarify that it doesn’t intend to sign any agreement with NIS for exploration and production operations in Romania,” MOL said, dismissing media reports of a planned joint venture with NIS.
“MOL is determined to continue its long-term development strategy in Romania both in the upstream and downstream sectors,” it added.
NIS’ general manager Kiril Kravchenko said in an interview for Hungarian magazine Figyelo earlier this month that his company might enter an agreement with MOL to set up a joint venture for upstream operations in Romania.
MOL runs 137 gas stations in Romania.
In 2011, the Hungarian company and Romania’s Expert Petroleum signed concession agreements for three exploration perimeters in the Pannonian basin, western Romania. MOL is the operator of the projects, with 70% participating interest in the blocks, while Expert Petroleum holds the remaining 30%.
Serbian-based NIS operates five gas stations in Romania. In 2012, the company announced plans to expand its local network to 120 gas stations by the end of 2014.
The Gazprom-controlled company and East West Petroleum won four exploration concessions in western Romania. Seismic and drilling programs are scheduled for this year, according to East West Petroleum data.