Subscribe to our social channels to get the latest news about Hungary!
MOL acquires more Norwegian licences
Change language:
Hungarian oil and gas company MOL has won three more offshore exploration and production licences in Norway, raising the total it owns in the country to 20, Foreign Minister Péter Sziijártó said after talks in Tromso, Norway, on Tuesday.
MOL will spend 500 million US dollars on exploration in the coming five years, strengthening its presence in Norway, Szijjártó said. The newly acquired licences contain reserves of more than 750 million barrels of oil equivalent, doubling MOL’s global exploration portfolio, he added.
The minister said Norway could also play an important role in securing Hungary’s future gas supply.
“Back in 2016, Hungary signed an agreement with Statoil. We’d like to be able to count on Norwegian gas as another source of Hungary’s energy diversification in the future as well,” Szijjártó said.
“This means that central Europe’ infrastructure needs to be able to receive and utilise liquefied natural gas.”