MOL, Hungary’s leading oil and gas company, has announced the successful acquisition of O&GD’s gas fields near Endrod in southeastern Hungary, including the associated infrastructure. The site spans approximately 1,000 square kilometers and contains 29 active wells, currently producing hydrocarbons with a daily output of about 1,000 barrels. This acquisition is expected to significantly contribute to Hungary’s energy supply, with additional exploration opportunities available in the long term.
The move aligns with MOL’s ongoing strategy to strengthen its hydrocarbon production and enhance energy security within Hungary. The company anticipates that the gas fields in Bekes County will play a pivotal role in increasing domestic energy production and improving Hungary’s energy independence. MOL currently operates nearly 1,300 oil and gas wells across the country and plans to invest 375 million euros in its oil and gas production over the next three years.
In 2023, MOL was responsible for 47% of Hungary’s total crude oil production, extracting 600,000 tons, and produced 1.5 billion cubic meters of natural gas, covering almost 80% of the country’s domestic production. Hungary remains MOL’s most significant production hub, representing nearly 40% of its global portfolio.
MOL and O&GD have had a long-standing partnership, with their joint efforts leading to the discovery of an oil deposit near Tura in Pest County in 2024. The deal for the sale of the Endrod gas field was finalized in December 2024. O&GD, a subsidiary of the Dutch company Sand Hill Energy, has been operating in Hungary since 2013 and has identified several gas fields. MOL also holds a 49% stake in three of O&GD’s exploration concessions.