The three wells could produce as much as 750 barrels of oil equivalent per day, enough gas to supply up to 20,000 households for several years, MOL said.
MOL noted that 16 of 18 shallow gas wells it has drilled in recent years have been successful. Shallow gas wells account for about 5% of MOL's annual 1.4 billion cubic meters of domestic gas production.
The company plans to invest around HUF 200 bln in domestic hydrocarbon exploitation over the coming five years.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
