Hungarian oil and fuel firm MOL, in collaboration with O&GD, has found a brand new oilfield close to the village of Galgahévíz, near Budapest in Hungary.
Situated at a depth of two,400m, the Galgahévíz-4 nicely is ready to yield round 1,000 barrels of oil per day (bopd).
MOL plans to course of the output at its Danube Refinery in Százhalombatta, as said in a latest announcement.
The manufacturing from the positioning can be divided between MOL and O&GD, with a 49% and 51% sharing association, respectively.
The brand new Galgahévíz-4 nicely is anticipated so as to add round 4% to MOL’s home oil manufacturing.
MOL Hungary managing director György Bacsa mentioned: “The brand new deposit contributes considerably to Hungary’s safety of provide, as home manufacturing reduces import dependency.
“Uncertainties surrounding provide routes additionally verify that the extra pipelines there are within the area, the extra sure it’s that there’ll all the time be sufficient vitality. Nevertheless, one of the best supply is all the time home, which is why MOL treats hydrocarbon exploration in Hungary as a precedence.”
MOL began drilling operations at Galgahévíz-4 inside the Mogyoród concession space on the finish of Might this 12 months, reported HungaryToday.
The nicely reached its designated depth in simply 37 days and has since been put into operation following profitable testing.
The drilling was executed by MOL’s subsidiary, Rotary, utilizing the R-69 rig.
MOL is a number one hydrocarbon producer in Hungary, working near 1,300 oil and fuel wells. Hungary represents 39% of its whole manufacturing.
Final 12 months, the corporate accounted for 47% of the nation’s crude oil manufacturing and practically 80% of its pure fuel output.
Earlier this 12 months, MOL and Turkish Petroleum secured concession agreements with Hungary’s Ministry of Vitality.
The agreements permit for joint hydrocarbon exploration within the Tamási and Buzsák areas.
“MOL, O&GD uncover new oilfield close to Budapest, Hungary” was initially created and printed by Offshore Technology, a GlobalData owned model.
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