Hungary upstream summary Report

Country Report 21 May 2025

Get this report*

$4,080

You can pay by card or invoice

Share link

First name
Last name
Job Title
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

Submit Category

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

A mature hydrocarbon region in decline, despite recent discoveries - Hungary's upstream sector was established in the 1800s. The industry started in the early 1900s with the arrival of foreign investors, leading to significant oil and gas production from 1937 onwards, particularly during World War II. The peak production of 191,000 boe/d occurred in 1985. The majority of Hungary's oil and gas fields are mature and declining. However, new production from Vecses - the largest find in ...

Executive summary
Key facts
Location maps
Key companies
- Key operators
Geology
- Overview
- Hydrocarbon plays
  - Permian to Mesozoic
  - Palaeogene to Lower Miocene
  - Middle Miocene to Quaternary
Exploration
- Licensing
  - Overview
  - First licensing round (1993)
  - Open licensing (1997-2012)
  - Back to licensing rounds (2013)
  - Latest licensing round (2024-25)
- Drilling
  - Drilling activity
- Key recent and future conventional E&A activity
- Historical conventional E&A activity
  - Cross-border Cooperation
- Unconventional E&A activity
- Service industry
  - Drilling
  - Seismic
Reserves and resources
- Overview
Production
- Liquids
- Gas
Infrastructure
- Oil infrastructure
- Overview
- Key pipelines
- Terminals
- Refineries
- Gas infrastructure
  - Overview
  - Domestic gas network
  - Gas storage facilities
- Key import and transit pipelines
- Bulgaria-Romania-Hungary-Austria (BRUA)
  - Phase 1
  - Phase 2
Costs
- Introduction
- Capital costs
  - Capital expenditure by location
- Operating costs
  - Operating expenditure by location
Policy and regulation
- Key legislation
  - Mining Act (Act No. XLVIII of 1993)
  - Natural Gas Supply Act (Act No. XLII of 2003)
  - Safety Stockpiling of Natural Gas (Act No. XXVI of 2006)
- Regulatory body
- State oil company
  - MOL
  - MVM Group
- Licensing
  - Concessions
  - Abandonment
Fiscal terms
- Overview
  - Upstream
  - Mid/Downstream
- Current fiscal terms
- Concessions
  - State equity participation
  - Bonuses, rentals and fees
  - Indirect taxes
  - Royalty
  - Corporate income tax (CIT)
  - Energy Suppliers Tax (the ‘Robin Hood' tax)
  - 'Petroleum product producer' windfall tax
  - Other taxes
  - 2 more item(s)...