SEATTLE (Oil Monster): In a statement, MOL Hungary said that it and O&GD had found a new oil field close to Galgahevíz, Hungary.
At a depth of roughly 2,400 meters (7,874 feet), the recently found oil field is located. The Danube Refinery in Százhalombatta will handle the roughly 1,000 barrels of crude oil that the well may produce each day. MOL and O&GD will split the extracted volumes from the Galgahevíz-4 well in a 49:51 ratio.
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MOL Hungary's Managing Director, Gyorgy Bacsa, stated that the new finding will assist the nation in lessening its reliance on imports. Additionally, it will make a substantial contribution to the supply security of Hungary. According to Bacsa, MOL gives domestic hydrocarbon exploration first priority.
MOL announced the finding of a new oilfield in Western Hungary, close to Somogysámson, earlier in March of this year. Oil was discovered at a depth of 1,250 meters during the exploration drilling. The well can generate up to 1,200 barrels per day, according to MOL. Even though drilling was finished in December of last year, well tests continued until March of 2025.
The discovery is a component of the company's ambitious investment plans to increase Hungary's production of natural gas and oil.
