MOL to Acquire O+GD Central Upstream Assets in Hungary

Hungarian oil and gas company MOL on Thursday said it signed an agreement to acquire hydrocarbon concessions in Hungary from O+GD Central Ltd.

Under the sale and purchase agreement, MOL will acquire O+GD's 51% stake in concessions in Mogyoród, Nagykáta and Ócsa, all in central Hungary. The deal also includes a range of other assets in the east of Hungary.

MOL already owns a 49% stake in the concessions as a partner in a joint venture it entered in 2023. The acquisition will add around 900 barrels of oil equivalent per day to MOL Group's production.

As Archibald Schubert, Managing Director of MOL E&P Hungary said, “we can counterbalance the uncertainties of the global energy market through diversification, and the best source is always domestic. Over the past five years, MOL has invested approximately 160 billion forints in domestic crude oil and natural gas production, which has led, among other things, to the discovery of the Vecsés and Somogysámson wells. As a result of these new discoveries and production optimization, Hungarian production is currently at a 25-year high. Based on our earlier experience, O&GD areas are promising: in the area near Endrőd, acquired in 2025, we discovered a new gas reservoir at a depth of 1,760 meters by the end of the year. The Nagykörű-D-2 well began production in March 2026 and supplies MOL’s Tiszaújváros plant with 70,000 cubic meters of gas per day.”

The deal is expected to close in Q3 2026, pending regulatory approval.