Headline : MOL Discovers a New Oil Deposit in Central Hungary

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Crude oil has been found near Tura (central Hungary), providing around 1,000 barrels per day. For the Hungarian oil company MOL, this means 500 barrels per day, which is about 1% of the group’s average daily oil production in 2023. The drilling for the well began last summer and the oil deposit was discovered at a depth of 2,100 meters, Index reports.

According to an extraordinary announcement on the Budapest Stock Exchange website, MOL has been involved in the exploration of a new oil deposit in Hungary. “MOL, together with O&GD Central Kft. of Hungary (‘OGD’), has successfully drilled a well in central Hungary, near the settlement of Tura, after MOL acquired a 49% interest in three exploration concessions previously won by OGD in the summer of 2023,” the company said in a statement on Tuesday.

According to an Economx article, the drilling of the well, called Tura-D-3, began last summer and the oil deposit was discovered at a depth of 2,100 meters. The so-called Paleogene basin, a geological unit not far from Budapest, currently has four exploration concessions, of which MOL holds the Dány area.

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