PHOTOS: Oil field discovered near Budapest, extraction may start soon

Ádám Homonnay, MOL’s research and production director, presented the ongoing 3D seismic measure process near Üllő, a suburb of Budapest, yesterday. He said their search for gas and oil in the region was promising. The project is part of the Hungarian oil and gas giant’s shallow gas extraction programme.

Oil instead of gas near Üllő

According to Magyar Hírlap, Mr Homonnay highlighted that their ongoing gas and oil search programme near Üllő, a small town in the vicinity of Budapest, has been fruitful. The Hungarian energy giant is looking for hydrocarbons in a 30 square kilometres area. Acoustic Geofizikai Ltd, a Hungarian company, started the work in late February. According to the first results and calculations, MOL expects to find oil instead of gas near Üllő.

Ádám Homonnay underlined that they found oil near Vecsés, a settlement of 20 thousand residents close to the Budapest Airport and in the vicinity of Üllő. That valorised the area near Üllő since the company expects to find oil.

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MOL professionals said that they were mapping the underground area. They process the data and evaluate it. The next phase will be the drilling process. Mr Homonnay added that processing and evaluating the data would take 3-6 months in the case of the Üllő area. As a result, MOL may start drilling at the end of this year.