MOL Sets up Geothermal Energy Company With International Partners

Hungarian oil and gas company has set up a geothermic energy producing company with Icelandic company Enex and Australian company Green Rock Energy International, MOL announced on the website of the Budapest Stock Exchange on July 30th 2008. The joint venture, CEGE Central European Geothermal Energy Production Private Company will have even shares held by the three founders.

The new company's activities will include exploration, production and sales of geothermal energy, the construction of geothermal power plants and technologies for directly supplying thermal heat.

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