Hungary awarded concessions for hydrocarbon exploration across three sites to reduce foreign energy reliance, the Ministry of Economy and Energy announced according to MTI.
State-owned MVM (more precisely MVM Upstream Energy) won rights in the Baracska area. The largest Hungarian energy holding, MOL (MOL Upstream) secured rights near Bekescsaba and Nagylengyel-Nyugat. Bids for four other offered blocks were completely unsuccesful. The ministry expects the final contracts within 90 days. Winners receive rights to explore and produce crude oil and natural gas for at least 20 years. Hungary currently holds 11 active hydrocarbon exploration areas across the country.
Official data shows domestic production reached 962,000 cubic metres of natural gas and 576,000 tonnes of oil in the first half of 2026. Annual oil production remains on track to surpass 1 million tonnes, while domestic natural gas production covered almost 2 billion cubic metres, over 60 per cent of residential demand in 2025.
“Join the companies that smart energy professionals follow – because when you’re featured on GEN, the industry pays attention.”