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MOL ANNOUNCES OIL DISCOVERY IN HUNGARY

 

Hungarian oil and gas company MOL announced the successful drilling of a well at an oil field in Vecsés, on the outskirts of Budapest, that it discovered in 2022. Test production of the Vecsés-1 well started with a production rate of 1,300 barrels per day, equivalent to around 1.5% of group-level hydrocarbon production. MOL said it expected production at Vecsés-1 to increase in the near future. After drilling two successful wells, a third will be drilled soon, it added.