Hungary Awards New Oil and Gas Exploration Concessions to State-Owned Companies
Hungary has awarded three new oil and gas exploration concessions to state-owned MVM Upstream Energy and MOL Upstream, the upstream division of Hungary's largest energy company. The concessions are for areas in Baracska, near Békéscsaba, and in Nagylengyel-Nyugat.
The Ministry of Economy and Energy stated that the successful bidders will be granted the right to explore for and produce crude oil and natural gas for a minimum of 20 years. The concession agreements with the winners are expected to be finalized within 90 days.
Hungary's domestic energy production continues to play a significant role in meeting its supply needs, with recent figures indicating that it produced 962,000 cubic meters (34,000 cubic feet) of natural gas and 576,000 metric tonnes of crude oil in the first six months of 2026.
The country's goal is to strengthen domestic energy resources and reduce its reliance on imported hydrocarbons. Annual domestic oil output is expected to exceed 1 million metric tonnes, while natural gas production reached almost 2 billion cubic meters (70.6 billion cubic feet) in 2025, covering more than 60 percent of residential demand.