Vol. XL

No. 1

6-January-1997

SYRIA

Hungary's MOL Acquires Oil Concession In Syria

The Hungarian oil and gas company, MOL, has signed anoil and gas exploration and production agreement with Syria. "MOL has an explorationpermit in the 5,000-sq. km. Palmyra East block," the company announced on 27December. MOL, which has 100% ownership of the permit located in the central part of thecountry, will start the first phase of exploration in 1997. The project will last threeyears and eight months.