MOL, O&GD discover new oil field in Hungary

MOL and O&GD have discovered a new oil field at a depth of approximately 2,400 m near Galgahévíz, Hungary. The well, named Galgahévíz-4, is capable of producing approximately 1,000 barrels of crude oil per day, which is processed at the Danube Refinery in Százhalombatta.

The new discovery coincides with the 60th anniversary of the Algyő field, where oil and natural gas production began in 1965 and continues to play a significant role in Hungary’s energy supply.

The partners began drilling the Galgahévíz-4 well in Galgahévíz, which is part of the Mogyoród concession area, at the end of May, and reached its target depth of 2,400 m in 37 days. Following successful tests, the well was put into production and is capable of producing approximately 1,000 barrels of crude oil per day.

The drilling was carried out by MOL’s subsidiary, Rotary Zrt., using the R-69 drilling rig.