MOL Weighs Alternatives at Oil Field in SE Hungary

Energy Trade

Hungarian oil and gas company MOL plans to drill new wells at the Algyo field in the southeast of the country in 2024, but is also considering using the area for green energy, the head of the company's local upstream business said on-site on Tuesday, according to a report by state news wire MTI.

Ádám Homannay said MOL plans to drill new wells at the field in 2024, but added that conventional operation of wells there would only continue as long as it is economically feasible.

Production at the field supplied over two-thirds of the crude consumed in Hungary during the early 1980s, but the output is now just one-tenth that level.

MOL is studying the possibility of using the field for the production of hydrogen, tapping geothermal energy, or building a solar park there, Homannay said.

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