Country Report
Hungary upstream summary
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 ...
Table of contents
- 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
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Exploration
-
Licensing
- Overview
- First licensing round (1993)
- Open licensing (1997-2012)
- Recent licensing rounds (2013 onwards)
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Drilling
- Drilling activity
- Key recent and future conventional E&A activity
-
Historical conventional E&A activity
- Cross-border Cooperation
- Unconventional E&A activity
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Service industry
- Drilling
- Seismic
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Licensing
-
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
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Bulgaria-Romania-Hungary-Austria (BRUA)
- Phase 1
- Phase 2
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Costs
- Introduction
-
Capital costs
- Capital expenditure by location
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Operating costs
- Operating expenditure by location
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Policy and regulation
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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
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Licensing
- Concessions
- Abandonment
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Key legislation
-
Fiscal terms
-
Overview
- Upstream
- Mid/Downstream
- Current fiscal terms
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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
- Product pricing
- Sample cash flow
-
Overview
Tables and charts
This report includes 28 images and tables including:
- Hungary - liquids production
- Hungary - gas production
- Key facts: Table 1
- Country map
- Reserves and contingent resources at 01/01/2024
- Liquids and Gas Production 2023
- Net Acreage 2024
- Hungary - sedimentary basins
- Reserves
- Contingent resources
- Production: Table 1
- Production: Table 2
- Hungary - liquids production
- Production: Table 3
- Production: Table 4
- Hungary - gas production
- Hungary - oil infrastructure
- Hungary - licensing activity
- Hungary - E&A drilling activity
- Hungary - gas infrastructure
- Costs: Table 1
- Costs: Table 2
- Costs: Table 3
- Costs: Table 4
- Fiscal terms: Table 1
- Fiscal terms: Table 2
- Fiscal terms: Table 3
- Fiscal terms: Table 4
What's included
This report contains:
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