MOL Group, in partnership with O&GD, has announced the successful discovery of a new oil field in Galgahévíz, Hungary. The Galgahévíz-4 well reached a depth of approximately 2,400 meters and was swiftly put into production, now yielding an estimated 1,000 barrels of crude oil per day.

Drilling of the well began in late May and reached its target depth in just 37 days, underscoring the efficiency of the operation. Following conclusive testing, the well was connected to the production system, adding approximately 4 percent to MOL’s total crude oil output in Hungary. The production-sharing arrangement allocates 51 percent of the output to O&GD and 49 percent to MOL. Crude extracted from the well is transported to the Danube Refinery in Százhalombatta for processing, with drilling operations carried out by Rotáry Zrt., a subsidiary of MOL, using the R-69 drilling rig.

Dr. György Bacsa, COO of MOL Hungary, emphasized that the discovery significantly enhances Hungary’s domestic energy security by reducing reliance on imports. In the face of geopolitical and supply chain uncertainties, the development of reliable local resources remains critical for national resilience.

The Galgahévíz-4 project is the latest in a series of successful discoveries by MOL in Hungary, following oil finds at Vecsés-1, Vecsés-2, Vecsés-3, and a Transdanubia discovery near Somogysámson earlier this year. MOL continues to be the country’s largest hydrocarbon producer, operating nearly 1,300 wells. In 2024, the company accounted for nearly half of Hungary’s crude oil production and around 80 percent of its natural gas output, with Hungary contributing nearly 40 percent of MOL’s global oil and gas portfolio.

This announcement comes as MOL marks the 60th anniversary of the Algyő field, which has been in continuous production since 1965. While Algyő once supplied the majority of Hungary’s crude oil and natural gas, it continues today to provide a meaningful share of national demand. At the same time, the site is transitioning toward renewable energy, with a 37.4 MWp solar park and 40 MWh storage system under development to cut carbon emissions by 13,000 tonnes annually.

KeyFacts Energy: MOL Group Hungary country profile   l   KeyFacts Energy: Discovery news