Hungarian energy group MOL.Nyrt (MOL.BU) is planning to intensify exploration in the Kurdistan region of Iraq and is investing more than $100 million there next year, the company said Wednesday.

MAIN FACTS:

-MOL currently has two rigs operating in the Akri-Bijeel block found in the Kurdistan region of Iraq.

-The company is planning to establish four new appraisal wells in the region next year.

-As a result of earlier exploration works between 2007 and 2009, MOL identified three to five hydrocarbon prospects in the Akri-Bijeel Block.

-The test results of the exploration wells are expected in the second half of 2012.

-Budapest Bureau, Dow Jones Newswires, +36-1-267-0622; budapest@dowjones.com

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