Natural gas found in Eastern Hungary!

MOL, the Hungarian oil and gas company, has successfully drilled three shallow gas wells in Eastern Hungary. Two drillings were carried out in the Komádi area and one in Álmosd. The three new wells will be able to meet the gas needs of up to 20,000 average family homes for years.

MOL launched its shallow gas programme in 2019. The initiative targets fields that are closer to the surface and small in size, Portfolio reports. In recent years, 16 out of 18 wells have been successful. Shallow gas currently accounts for roughly 5 percent of the company’s 1.4 billion cubic meters of gas production in Hungary each year.

The new findings were made possible by a special evaluation of modern seismic measurements. It will help researchers get a more accurate picture of where there is a high probability of gas deep underground, MOL said in a statement.

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The gas fields targeted by the drilling are located at shallower depths than usual, usually around 1500-2000 metres, hence the name of the programme. The existing gas pipeline infrastructure in Hungary makes it possible to bring the discovered plants into production and deliver the gas to the population and industrial consumers in a very short time, on average 5-6 months.

The three new wells could contribute up to 750 barrels per day to maintain Mol’s production of around 32,000 barrels per day of gas and oil in Hungary. That is equivalent to about 44 million cubic metres of gas per year, Portfolio writes.

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MOL is the largest producer of natural gas in Hungary. It accounted for 90 percent of domestic production in 2022 with 1.4 billion cubic meters, and shallow gas accounts for roughly 5 percent of the total. The company plans to invest around HUF 200 billion in oil and gas mining in Hungary over the next five years, with around 60-65 percent of this for natural gas, 20-25 percent for oil and the remainder for the safe maintenance and replacement of infrastructure, the press release said.

Featured image: illustration

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Source: Portfolio.hu