MOL announces oil discovery in Hungary again
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On Friday, Hungarian oil and gas company MOL announced the successful drilling of a well at an oil field in Vecsés, on the outskirts of Budapest, that it discovered in 2022.
The Vecsés-1 well’s test production started at 1,300 barrels per day, equivalent to around 1.5pc of group-level hydrocarbon production.
MOL said it expected production at Vecses-1 to increase shortly. After drilling two successful wells, a third will be drilled soon, it added.
“The discovery of the new oil field a year and a half ago proved that there is still great potential in domestic hydrocarbon exploration. And this latest discovery will add another 1,300 barrels to the daily production of the Vecsés oil field, so that the two Vecsés wells together now account for more than a quarter of Mol’s Hungarian oil production. The Vecsési field is a major contribution to compensating for the natural decline in production from our mature fields.”