Petrom and Hunt form exploration partnership

The companies will jointly invest EUR 25 mn for seismic data acquisition and study programs in 2010 and 2011. The new seismic data will be jointly evaluated to determine oil and gas opportunities for exploration drilling.

It is an usual procedure for two companies to form a team in the capital-intensive upstream business. With the help of the partnership, Petrom will not only profit from additional know-how but also share the costs. We therefore see the news positive.

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