New Oil Field Discovered in Hungary

New Oil Field Discovered in Hungary

Fərid Əlizadə · İqtisadiyyat ·

Hungarian companies MOL and O&GD have discovered a new oil field within the country. According to preliminary estimates, the "Galgaheviz-4" well has the capacity to produce approximately one thousand barrels of crude oil daily.

The editorial office, citing the statement released by the companies, reports that the extracted raw material will be divided between MOLGROUP and O&GD in a 51–49 ratio and processed at the Danube Refinery located in Szazxalombatta.

The information notes that the exploitation of the new field will contribute to reducing the country's energy dependence. It is worth recalling that previously, Hungarian Foreign Minister Péter Szijjártó called the attack on the "Druzhba" oil pipeline a blow to the country's energy security and stated that oil supplies to the country were temporarily suspended as a result.