Despite almost negligible Oil reserves from a global point of view, firms continue to explore the region for oil deposits. For example, in the Czech Republic, exploration has been taking place in the Western Carpathians, an area bordering Austria and Slovakia. Australias Carpathian Resources, which is leading the exploration and production activities in this regioo, reported that it has been producing oil, albeit sporadic due to water influx and weather problems, from two wells (Ks7 and Ks8) at the Krasna oil field. Carpathian Resources also holds three exploration licenses in Slovakia for the Koroa, Mikova and Kezmarok fields, of which the first two have demonstrated non-commercially-viable oil deposits after preliminary testing. According to a Slovak government sponsored study (1993-1996), the Kezmarok field was deemed the deposit with the greatest potential, containing 31 million barrels of oil and 420 Bcf of Natural Gas. It is unclear how much of these reserves might be recoverable. According to its three-year (2003-2005) strategic plan, the Hungarian Oil and Gas Company (MOL), aims to double its oil exploration and extraction, investing $40-$50 million annually on exploration activities in Hungary. In 2003, Mol reported that it had increased its Crude Oil production in Hungary 8 percent yeas-on-year. Internationally, MOL had been involved in a joint-venture with Russias Yukos to explore and develop the 145-million-Barrel Zapadno-Malobaik oil field in Western Siberia, with each owning 50 percent. However, in September 2005, MOL took OAO Russneft as their new partner, replacing Yukos. This replacement was approved by the Federal Antimonopoly Service of the Russian Federation, with all the contractual provisions of the joint venture remaining unchanged. At the end of 2004, it was estimated that MOLs share of the net proven reserwes is 28.1 million barrels. MOL believes that full exploration of the site could bring their share up to as much as 70 million barrels. In Poland, PetroBaltic, owned by Polands State Treasury, produces crude oil from the B-3 field in the Baltic Sea. The company also conducts exploration activities internationally, such as in Syria, Yemen, Russia, and Nigeria. The Polish Oil and Gas Company (POGC) is the other major crude oil producer in Poland.