A new oil field has been discovered in Hungary
Hungarian oil and gas company MOL reported that it has discovered a new field in the central part of the country, from which about a thousand barrels of oil per day can be extracted.
"MOL together with the Hungarian company O&GD Central Kft. conducted successful drilling in Central Hungary, near the village of Tura. The new field currently produces about a thousand barrels of oil per day, OGD and MOL own it in the proportion of 51%-49%. For MOL, this means approximately 500 barrels per day, which is approximately 1% of the average daily oil production of the MOL group in 2023," the company said in a statement.
Energy
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The State Oil Company of Azerbaijan (SOCAR) is launching the Leucipa monitoring program for the first time in the Caspian region to enhance production efficiency in the oil and gas industry, KOKAR reported. “SOCAR is implementing an innovative digital solution – the Leucipa monitoring program – to optimize processes and improve extraction efficiency. This initiative is part of a strategic collaboration with Baker Hughes. This project is a key part of SOCAR’s digital transformation strategy,” the company’s statement said.
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The daily oil production, including condensate, in Azerbaijan in January amounted to 74.5 thousand tons (559 thousand barrels). Of this volume, oil accounted for 61.7 thousand tons (454 thousand barrels per day), and condensate – 12.8 thousand tons (105 thousand barrels per day), the press service of Azerbaijan’s Ministry of Energy. Thus, Azerbaijan used 82.4% of its OPEC quota in January.
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In January 2025, Azerbaijan exported a total of 2 bcm of natural gas. Compared to January of the previous year, export volumes decreased by 300 mcm, the website of Azerbaijan’s Ministry of Energy. According to the ministry’s data, during the reporting period, Azerbaijan’s gas exports to Europe amounted to 1 bcm (a decrease of 100 mcm.)
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In January 2025, Azerbaijan exported 2 million tons of oil and condensate to foreign markets. The export volumes of liquid hydrocarbons from Azerbaijan decreased by 100 thousand tons, the website of Azerbaijan’s Ministry of Energy.
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