Sand Hill Awarded 3 Hungary Concessions
Sand Hill Petroleum B.V. revealed Thursday that its wholly owned Hungarian subsidiary, O&GD Central Kft, has been awarded three hydrocarbon concessions in Hungary.
The three exploration concessions, which total 752,900 acres, are located in the Pannonian Basin in Hungary, adjacent to O&GD Central’s operating area. The concession agreements have a duration of 20 years.
Sand Hill Petroleum was founded in December 2012. The company is focused on the Pannonian Basin in Hungary and Romania and headed by managing director and CEO Martin Fossum.
Fossum, who is a founding partner of Sand Hill Petroleum, has 29 years of integrated experience in upstream operations, exploration, field development, M&A, corporate planning, strategy and business development, according to Sand Hill Petroleum’s website. He retired from BP in 2009.
Tamas Lederer and David LeClair are also listed as managing directors of Sand Hill Petroleum on the company’s website.
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