OREANDA-NEWS. On March 30, 2009 OJSC “Surgutneftegas” signed an agreement to purchase 21.2% of Hungarian Magyar Olaj-es Gazipari Nyilvanosan Mukodo Reszvenytarsasag ("MOL") shares from OMV Group, reported the press-centre of Surgutneftegas.

Acquisition of MOL shares is an important step in implementing Surgutneftegas strategy to further strengthen the vertically integrated business and ensure the maximum proximity to end users.

“Acquisition of MOL shares will establish a firm foothold to start long-term beneficial cooperation and will promote energy security in Europe,” said Vladimir Bodganov, Director General of OJSC “Surgutneftegas”.

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Surgutneftegas is the fourth largest integrated oil producer in Surgut, Tyumenskaya Oblast. The company’s operations include exploration, facilities construction, and development of oil and oil/gas fields, production and sale of crude oil, gas, oil products and petrochemicals. The company employs over 100,000 people. The company’s revenue for 9M2008 totaled RUR 475.4 bn, net profit, RUR 120 bn.