Production at Corvinus Project Gas Well Starts

Energy Trade

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Production started at a gas well that uses alternative extraction technology on the outskirts of Sarkad (about 196 km southeast of Budapest) on Monday, the Ministry of Energy Affairs said, according to a report by state news wire MTI.

The well was spudded in the framework of the Corvinus Project, a scheme undertaken by a joint venture established with state-owned energy group MVM to boost domestic gas production from an annual 1.5 billion to 2 billion cubic meters using alternative extraction technologies.

The drilling of a second well at the Nyékpuszta field will start in days.

In a separate announcement, MVM said it is partnering in the 50%-50% JV with Horizon General, a unit of U.S.-based Aspect Holdings.

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