MOL announces oil discovery in Hungary

On Tuesday, the oil and gas company MOL announced a new oil field discovery near Somogysámson (W Hungary).

Zsombor Márton, MOL’s VP for E+P, said the discovery was “clear evidence” of further potential in hydrocarbon production in Hungary. He added that MOL’s oil fields in Vecsés and Tura, near the capital, and gas fields in the east of the country have lifted domestic production to a five-year peak.

The drilling of the new well, named Som-8, in the Somogysámson oil field started on 25 November 2024 and was completed after 33 days on Christmas Day. Based on stratigraphic tests carried out until March 2025, the well is now proven to be capable of producing 1,200 barrels of oil per day, which will be transported by tanker to the Danube Refinery in Százhalombatta.

This new discovery will also contribute to meeting the country’s energy needs. MOL has ambitious investment plans in Exploration and Production. Over the next five years, around HUF 150 billion is planned to be invested in oil and gas production in Hungary.

MOL is the largest hydrocarbon producer in Hungary, with almost 1,300 oil and gas wells, the official site said. In 2024, MOL will provide 47% of the domestic production of oil (almost 600 thousand tonnes) and almost 90% of the domestic production of natural gas (almost 1.5 bcm).Hungary is also the largest contributor to the MOL Group‘s oil and gas production portfolio, currently accounting for around 39% of total production.Oil production from the Som-8 well of around 1,200 barrels per day accounts for about 1% of the MOL Group’s total hydrocarbon production.

As part of its international portfolio, the MOL Group has oil and gas exploration and production assets in nine countries, of which it has production in eight countries, and produced an average of 93.8 thousand barrels of oil equivalent per day in 2024. In order to maintain the production level of at least 90 thousand barrels per day over the next 5 years, as set out in the updated SHAPE TOMORROW strategy, the company intends to further strengthen its international portfolio and develop additional strategic partnerships. To this end, it has recently concluded cooperation agreements with the Kazakh National Oil Company (KazMunayGas), the Azerbaijani National Oil Company (SOCAR) and the Turkish National Oil Company (Turkish Petroleum).