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Strategic partnershipwith MOLStrategic partnershipBy acquiring 25% plus one share, MOL became INA’sstrategic partner and INA found its way into an integratedregional oil and gas industry partnership consistingof MOL, INA, Slovnaft and TVK. The cooperation andthe materialisation of synergies have continued in theyear 2006.Joint UpstreamactivitiesIn 2007 INA and MOL continued the work in upstreamactivities. After signing the Contract on Joint Drillingof exploration wells Zalata (Hungary) and PodravskaSlatina (Croatia) in September 2006, in 2007 first resultson Zalata-1 well were announced, where hydrocarbonreserves were discovered. In September 2007 INA and MOLhave signed the Contract on Joint Drilling of the borderarea Novi Gradac (Croatia) and Potony (Hungary), aimingat discovery of new hydrocarbon reserves. Investmentsin the joint project and production share are determined50:50 by the Contract.INA and MOL are jointly evaluating the internationalupstream business opportunities for possible futurecooperation on international projects. By diversifying riskand combining the financial and human resources, bothcompanies will improve operations and efficiency.Support in the RefineryModernisation ProgrammeAnother key area of the current cooperation between INAand MOL include the development and implementation ofa full modernisation program at both of INA’s refineries.The comprehensive refinery modernisation project hasas its objective to rank INA among the most technicallyadvanced refiners in the region by expanding the refiningcapacity and reaching EURO V quality standards of oilproducts which are expected to become effective in2009. In implementation of the refineries modernisationprogramme, INA benefits from MOL’s experience inmodernising its own refineries.Regional retail networkdevelopmentThe mutual acceptance of branded fuel cards at bothINA and MOL petrol stations continued to prove successfulin 2007.The partners have consolidated a marketing strategy forthe South East European region, including the review ofretail positions in the region.Integrated SAP systemIn 2007 INA stabilised the SAP system and upgradedprocess and organisational prerequisites for higher-qualitySAP support, once more relying on MOL experiencesregarding the integrated SAP system.54 Strategic partnership with MOL