The Vecses oil field, located near Budapest, has exceeded expectations, making a significant contribution to Hungary’s oil production. To date, the field has produced over one million barrels of crude oil. The field includes the operational Vecses-1 and Vecses-2 wells, along with the newly established Vecses-3 well, which is adding an extra 600 barrels per day to MOL’s domestic output.
Together, the three wells yield approximately 4,000 barrels of crude oil daily, which accounts for nearly 30% of MOL’s total domestic crude oil production and around 4% of the MOL Group’s overall hydrocarbon output. This increased production has played a key role in enhancing Hungary’s energy security by reducing the country’s reliance on crude oil imports.
Archibald Schubert, Managing Director of MOL E&P Hungary, announced that the company plans to invest nearly 270 million euros over the next three years in further hydrocarbon exploration and production efforts within Hungary. This investment is expected to further strengthen Hungary’s energy independence and MOL’s position as a key player in the region’s oil and gas industry.
