The MOL Group has announced the discovery of a new oil field located near Somogysámson in Hungary's Transdanubia region.

The discovery was made during exploratory drilling conducted in December of last year, reaching a depth of 1,250 meters.

Based on subsequent evaluation, the new Som-8 well is reported to have a production capacity of 1,200 barrels of oil per day.

The drilling of the Som-8 well at the Somogysámson oil field commenced on November 25, 2024, and was completed on Christmas Day after 33 days.

Ongoing stratigraphic studies are expected to continue until March 2025. The produced oil will be transported to the Dunai Refinery in Százhalombatta via tanker trucks.

MOL's Chief Exploration and Production Officer, Marton Zsombor, stated that this discovery marks another success for the company following years of research in the region, where the last oil find was over a decade ago.

This achievement in the concession area belonging to Bázakerettye, known for its nearly century-long oil industry tradition, underscores the potential that remains in Hungary's hydrocarbon exploration.

Zsombor noted that the exploration efforts aim to continuously identify previously unknown hydrocarbon deposits, thereby enhancing the country's energy security.

The company has recently reported record levels of domestic production alongside discoveries in the Vecsés and Turai oil fields and eastern Hungary's natural gas fields.

György Bacsa, the Managing Director of MOL Hungary, highlighted the challenges faced by Hungary as a landlocked country, predominantly reliant on pipeline transport and intermediaries for its oil supply.

He emphasized the need to reduce Hungary's dependency on oil imports through available means, and MOL plans to continue its investments while maintaining and potentially increasing production levels.

In the next five years, MOL is expected to invest approximately 150 billion Hungarian Forints in oil and gas production within Hungary.

The company operates nearly 1,300 oil and gas wells across the country and is responsible for a significant portion of Hungary’s fossil fuel output—47% of the country's oil production and nearly 90% of its natural gas production are sourced from MOL.

Currently, Hungary accounts for 39% of the MOL Group's total oil and gas production, with the Som-8 well's output representing about 1% of the group’s overall hydrocarbon production.

Additionally, the MOL Group maintains a diversified international portfolio, operating oil and gas research and production assets in nine countries, with active production in eight of them.

In 2024, the group produced an average of 93,800 barrels of oil equivalent per day.

To sustain its strategic goal of maintaining a minimum production level of 90,000 barrels per day over the next five years, MOL plans to strengthen its international portfolio further and pursue additional strategic partnerships.

Recent collaborations with Kazakhstan's national oil company, KazMunayGas, Azerbaijan's SOCAR, and Turkey's Turkish Petroleum have been established to support these objectives.