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New Oil Well Starts Production near Budapest

Hungary Today 2024.06.07.

After another successful drilling, a new oil well has recently started production in the Vecsés oil field (near Budapest), in an area known as Vecsés-1. Oil miners are bringing up to 1,500 barrels of crude oil a day to the surface. On Saturday, exploratory drilling will also start in Vecsés, in another part of the town, where experts believe there is also a large quantity of oil.

Production started in Vecsés almost a month ago, Hirado.hu reports. The well, named Vecsés-1, brings 1,500 barrels of crude oil up to the surface every day from a depth of around 2,000 meters. The new well is similar to Vecsés-2, which has been in production since 2022.

The two Vecsés wells now account for a quarter of MOL Hungary’s oil production, and this one well alone has increased our production volume by more than ten percent,”

said György Bacsa, Managing Director of MOL Hungary.

From time to time, oil miners take samples of the oil they extract to check for contaminants, for instance.
The tests so far have shown that the Vecsés crude is of very high quality, free not only of impurities but also of water and gas.

Photo: MTI/Balogh Zoltán

Experts say that every barrel of oil extracted in Hungary contributes to reducing dependence on imports and increasing security of energy supply. This is why new and further research is important.

The so-called R-69 drilling rig will start operating on Saturday in another part of Vecsés. Here, too, it is expected that there will be a significant amount of raw material in the deep earth.

If this can be confirmed by exploratory drilling, it will be the newest domestic oil well, to be named Vecsés-3.

Workers at the R-69 drilling rig in Vecsés. Photo: MTI/Balogh Zoltán

“This well will take about forty days to drill, which is the time needed to drill down to a depth of about 2,000 meters and see if we can find oil again after the Vecsés-2 and Vecsés-1 discoveries. This equipment is currently the most powerful equipment used by MOL, with a power output of 1,000 horsepower,” explained Archibald Schubert, MOL Hungary’s director of research and production.

The R-69 drilling rig. Photo: MTI/Balogh Zoltán

MOL plans to invest almost HUF 100 billion (EUR 260 million) in exploration and production in Hungary over the next three years.

The company is currently the largest hydrocarbon producer in Hungary. Last year, MOL extracted half of the crude oil and 86 percent of the natural gas produced in Hungary.

MOL Discovers a New Oil Deposit in Central Hungary
MOL Discovers a New Oil Deposit in Central Hungary

The discovery means about 500 barrels per day for the Hungarian oil giant.Continue reading

Via Hirado.hu, Featured image: MTI/Balogh Zoltán

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