MOL expands its E&P portfolio in Hungary

The assets under consideration include O&GD’s 51% stake in three concessions in Central Hungary (Mogyoród, Nagykáta, and Ócsa) where MOL had already entered as a JV partner in 2023 with 49% stake and with producing oil wells totaling ~0.7 mbpd with respect to OGD’s production share. Furthermore, a range of other assets in Eastern Hungary, including 3 concessions with ~0.2 mboepd gas production are also part of the transaction. The total expected addition to MOL Group’s production thus amounts to ~0.9 mboepd.

Archibald Schubert, Managing Director of MOL E&P Hungary said: “We can counterbalance the uncertainties of the global energy market through diversification, and the best source is always domestic. Over the past five years, MOL has invested approximately 160 billion forints in domestic crude oil and natural gas production, which has led, among other things, to the discovery of the Vecsés and Somogysámson wells. As a result of these new discoveries and production optimization, Hungarian production is currently at a 25-year high. Based on our earlier experience, O&GD areas are promising: in the area near Endrőd, acquired in 2025, we discovered a new gas reservoir at a depth of 1,760 meters by the end of the year. The Nagykörű-D-2 well began production in March 2026 and supplies MOL’s Tiszaújváros plant with 70,000 cubic meters of gas per day.”

The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals.