Hungarian energy company MOL, in partnership with Dutch-owned O&GD, has started production from a new oil discovery near Galgaheviz at a depth of approximately 2,400 meters. The Galgaheviz-4 well delivers around 1,000 barrels of crude per day, which will be processed at MOL’s Szazhalombatta refinery. The well is expected to contribute roughly 0.5% of MOL Group’s total hydrocarbon output and 4% of Hungary’s crude oil production. Production will be shared between MOL and O&GD, with a 51-49 percent split.
MOL emphasized that the discovery enhances national energy security by reducing dependence on imports, noting that domestic production remains the most reliable safeguard against supply disruptions. This follows several recent MOL successes, including new finds at Vecses-1, Vecses-2, Vecses-3, and near Somogysamson, as well as 25 successful wells from its shallow gas program.
The company has pledged nearly €500 million to strengthen domestic oil and gas production. MOL currently operates around 1,300 wells in Hungary and accounted for 47% of the nation’s oil output (≈600,000 tons) and 80% of natural gas (≈1.5 billion cubic meters) in 2024, with Hungary remaining the largest contributor to MOL Group’s global production at about 39% of total output.
