MOL and O&GD discovered a new oil field

Energy Diary - MOL and O&GD have discovered a new oil field near Galgahévíz, Hungary. The partners began drilling the Galgahévíz-4 ​​well in Galgahévíz, part of the Mogyoród concession area, at the end of May.

Drilling, conducted by MOL's subsidiary Rotary Zrt. using an R-69 drilling rig, reached a depth of 2,400 meters in 37 days. Following successful testing, the well entered production and is capable of producing approximately 1,000 barrels of crude oil per day. O&GD and MOL share the extracted volume 51-49 percent.

Dr. György Bacsa, Operations Director of MOL Hungary, stated that the new deposit contributes to Hungary's supply security, saying, "The best resource is always domestic. That's why MOL prioritizes hydrocarbon exploration in Hungary."

In addition to this joint discovery with O&GD, MOL has recently made other hydrocarbon discoveries at various locations in Hungary. The Vecsés-2 drill holes were successful in November 2022, Vecsés-1 in May 2024, and Vecsés-3 in November 2024. In March 2025, MOL discovered oil in the Transdanubia region near Somogysámson. It also completed 25 successful drill holes as part of its shallow gas program, which began in 2019.

MOL is Hungary's largest hydrocarbon producer, producing from approximately 1,300 oil and natural gas wells. The company is expected to account for 47 percent of domestic oil production (approximately 600,000 tonnes) and approximately 80 percent of natural gas production (approximately 1.5 billion cubic metres) in 2024. Hungary is also the most important country in the MOL Group's oil and gas production portfolio. MOL's production currently represents approximately 39 percent of the country's total production. The Galgahévíz-4 ​​well contributes approximately 4 percent of MOL's crude oil production in Hungary.