MOL and Türkiye’s TPAO Searching for Oil and Gas Deposits in Southern Transdanubia

MOL’s Danube Refinery in Százhalombatta

The MOL Group and Türkiye’s national hydrocarbon research and production company, Turkish Petroleum Corporation (TPAO), have begun seismic surveys in the Buzsák area. They are investigating whether there are promising oil or natural gas deposits under the concession areas in southern Transdanubia, the Hungarian company announced on Monday.

They recalled that the two companies signed a strategic partnership agreement last year, in which they jointly applied for and won concessions in a tender by the Hungarian Ministry of Energy. MOL submitted bids for five concessions and won four.

The Budapest-based group applied independently for the two areas covering Kiskőrös and Hatvan, while it applied jointly with TPOC Ltd, a subsidiary of Turkish Petroleum Corporation, for the Buzsák and Tamási (southern Transdanubia) concessions.

MOL and TPAO have previously cooperated on hydrocarbon extraction projects in Azerbaijan, at the ACG deep-sea oil field since 2020, and at the Baitugan oil field in Russia since 2014.

In October 2024, the two companies signed a memorandum of understanding on joint exploration, field development, and production projects in the Caspian region, Türkiye, North Africa, the Middle East, and Central and Eastern Europe.

The seismic survey in Buzsák is the first concrete step since then, that may soon be followed by others.

The announcement quoted Zsombort Marton, executive director of the MOL Group’s research and production division, who said that the partnership with Turkish Petroleum Corporation allows them to use the latest technologies while sharing risks and costs.

They highlighted that

the Buzsák concession is a research area of more than 800 square kilometers, located next to the Somogysámson oil field discovered earlier this year.

Experts at MOL are conducting modern 3D seismic measurements, which essentially involve artificially generating seismic waves that are reflected back from various layers deep underground. This allows experts to create a three-dimensional image of the geological structures beneath the surface, thus enabling them to “see” underground.

MOL is the largest hydrocarbon production company in Hungary, with approximately 1,300 oil and natural gas production wells. In 2024, it accounted for 47 percent of Hungary’s crude oil production and over 80 percent of its natural gas production.

Hungary remains the most important country in the MOL Group’s hydrocarbon production portfolio, currently accounting for about 39 percent of total production. MOL treats hydrocarbon exploration in Hungary as a priority in order to reduce import dependency and contribute to the energy security of the country and the region, the company added.

Via MTI, Featured image: MTI/Hegedüs Róbert

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