Matra Petroleum claims Hungarian exploration license


Oil and gas E&P company Matra Petroleum announced the award of the Mezőcsokonya exploration license in Hungary in a statement.

The new license covers a total of 383 square kilometers (sqk) and is the central area surrounded by the Inke Concession already held by Matra. This area became available for application in 2007. Excluded from the license area are the 4 mining plots that containing existing fields and are held by MOL.

The exploration period is for an initial 4 years and may be extended by two further periods of two years each. The work obligation is to conduct a 3-D seismic survey. Exploratory drilling is expected to follow in due course.

Peter Hind, Matra’s Managing Director said “Our application follows the technical work completed in 2006/7. It gives us further access to the new play fairway identified and is close to existing significant discoveries. It enhances our Hungarian portfolio and we expect to start acquiring seismic later this year.”

Matra has a 40% interest in the Mezőcsokonya exploration license and in the Inke Concession. Horizon Hungarian Energy (HHE), a subsidiary of Aspect Holdings and a leading explorer in Hungary owns the remaining 60%. (press release)


Household income improved in Q1 Analysis

Household income improved in Q1

Ministers in new Orbán gov't sworn in Parliament

Ministers in new Orbán gov't sworn in

Spring’s allergy season - the heat is on Interview

Spring’s allergy season - the heat is on

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.