Mol Acquires Gas Production Interests

The Hungarian oil and gas company Mol has acquired the gas fields and related infrastructure of O&GD near Endrőd, SE Hungary, Mol announced on Tuesday, according to MTI.

The area of about 1,000 square kilometers includes 29 wells trained for hydrocarbon production, with a daily production of about 1,000 barrels equivalent.

In the longer term, the fields could play a key role in the domestic energy supply, as they offer exploration opportunities. The agreement is in line with the company's strategy of focusing on hydrocarbon production and energy security, they said.

The company said it was confident that the Békés county gas fields would boost domestic production and strengthen the country's energy independence.

Mol currently operates almost 1,300 oil and gas wells in Hungary and will invest HUF 150 billion in oil and gas production here over the next three years.

Last year, the group accounted for 47% of domestic production with 600,000 tons of crude oil and almost 80% of natural gas with one and a half billion cubic meters, with Hungary accounting for the largest share of its total production portfolio with almost 40%.

Mol and O&GD have been cooperating for years, and in 2024 their joint work resulted in the discovery of an oil deposit near Tura, they wrote.

According to their earlier announcement, the sale of the Endrőd gas field was agreed in December 2024.

O&GD, a subsidiary of Dutch company Sand Hill Energy, has discovered several gas fields in Hungary since its establishment in 2013, and Mol has a 49% stake in three of its exploration concessions, the company's website said.