MOL sells drilling subsidiary to INA unit
Jul 30, 2002 02:00 AM
Hungarian oil and gas company MOL said it has sold its drilling company's overseas operations to a subsidiary of
Croatian oil and gas company INA for an undisclosed sum. MOL's fully-owned subsidiary Rotary Rt. sold the equipment
it owns and operates in Syria and Tunisia to INA unit Crosco Drilling and Well Services, and also transferred the
related supplier and service contracts to Crosco, MOL said.
The transaction is part of MOL's strategy to divest non-core operations and also the first divestiture by Rotary, the
company said.
Source: Dow Jones
