MOL Discovers New Oil Field in Western Hungary

MOL has announced the discovery of a new oil field near Somogysámson in Western Hungary, revealing a potential production capacity of 1,200 barrels per day at a depth of 1,250 meters, following exploratory drilling completed on Christmas Day 2024. This discovery marks the first significant find in the region in over a decade and is part of MOL's broader strategy to bolster domestic hydrocarbon production, which has reached a five-year peak, aided by recent finds in Vecsés and Tura. Zsombor Marton, MOL's Executive Vice President, emphasized the importance of this discovery for Hungary's energy security, while COO György Bacsa highlighted the necessity of reducing dependency on oil imports. To support these efforts, MOL plans to invest HUF 150 billion (approximately EUR 377 million) in oil and gas production over the next five years. The oil extracted from the Som-8 well will be transported to the Danube Refinery, constituting about 1% of MOL Group's total hydrocarbon production. MOL currently accounts for 47% of Hungary's domestic crude oil production and nearly 90% of its natural gas production.