Hungary:

MOL Signs New Geothermal Concession Contract (portfolio.hu)

Hungarian oil & gas company MOL Plc. subsidiary CEGE Ltd. (owned 65/35% by MOL Plc. and Australian Green Rock Energy International Ltd.) has obtained rights on exploration and exploitation of geothermal energy on a 390 km2 concession area at Jászberény, Hungary.

The two year exploration phase aims to explore the geothermal potential of the area through reinterpretation of existing 3D seismic data, shooting new magnetotelluric points, drilling a close to 3,000 m deep geothermal production well and through the establishment and testing of a geothermal system composed of a doublet. The expected CAPEX of the exploration project exceeds the amount of HUF 3.1bn.

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