Friday, April 19, 2024
HomeOil & GasHungary strengthens energy security with domestic gas extraction
Powered by

Hungary strengthens energy security with domestic gas extraction

Hungary has taken significant strides in fortifying its energy security through the extraction of domestic hydrocarbon resources. The recently started drilling activities in the gas fields of South-East Hungary have already yielded promising results, contributing to the nation’s energy self-sufficiency and mitigating supply vulnerabilities according to the Ministry of Energy of Hungary.

In February, the first well at the hydrocarbon deposit in the Sarkad region commenced production, marking a milestone in Hungary’s pursuit of energy independence. The first well already demonstrated its productivity. Approximately 15 million cubic metres (mcm) of natural gas and a notable quantity of condensate have been extracted from the well, indicating a promising reserve. Moreover, estimates suggest that the first well alone could yield up to ten times the amount already brought to the surface, highlighting the significant potential for future extraction.

Building upon the success of the first well, the second well in Nyékpuszta field has recently concluded drilling activities, reaching an impressive depth of 4,500 metres. Currently, experts are engaged in well completion and preparing for a production test scheduled for July, with production expected to commence in autumn 2023.

Simultaneously, drilling has commenced for the third well. The targeted depth for this well is approximately 4,200 metres, and its completion is anticipated within the next two months. These expansion efforts reflect the government’s determination to tap into Hungary’s vast hydrocarbon reserves fully.

With expertise from Hungary’s state-owned energy holding MVM Group and the establishment of a joint venture structure, the Nyékpuszta field in Békés County has become a focal point for hydrocarbon extraction. Recognizing its strategic importance, the government declared it a priority investment in 2022.

“With a focus on maximising the utilisation of available resources, the government aims to cover the country’s energy needs through domestic production as much as possible. The role of natural gas in Hungary’s energy landscape remains vital. While geothermal energy continues to gain prominence in district heating, natural gas acts as a crucial balancing capacity for the intensified use of weather-dependent renewable energy sources. Hungary’s outstanding domestic gas storage facilities already hold reserves exceeding the residential consumption of 2021, ensuring a steady and secure supply for Hungarian households and businesses,” commented the Hungarian Ministry of Energy.

Sign up for our newsletters

    Monthly newsletter – Delivering the most important energy stories of the month selected by our Editor-in-chief
    Weekly Oil&Gas roundup - All major news about the oil and gas industry, LNG developments, the upscaling of new gases and related EU regulations arriving in your mailbox every Monday.
    Weekly Renewables&Climate roundup - All major news about investments in renewable energy sources, environment protection, green hydrogen and new innovative ways to tackle the climate crisis arriving in your mailbox every Tuesday.

    Most Popular