Hungary is ramping up efforts to ensure its energy independence, focusing on increasing domestic energy production through new mining concessions. The Ministry of Energy (ME) announced last fall that after a five-year break, it would begin granting new mining contracts, with several already finalized in key areas across the country.
In 2024, Hungary made significant strides in energy production, with over 1.9 billion cubic meters of natural gas extracted—amounting to more than 20% of the nation’s annual consumption. Additionally, crude oil production hit over 1 million tons, marking a 20-year high. Early 2025 saw similar production levels, with a slight uptick in natural gas output and a notable increase in crude oil production, rising from 250,000 tons to almost 300,000 tons.
The government has also made moves to secure long-term energy resources. In March, the Minister of Energy approved new hydrocarbon concessions, each lasting at least 20 years. Notable applicants for these concessions include Mol Plc., which has applied for sole rights in the Hatvan and Kiskőrös areas, and a joint bid by Mol and Turkish Petroleum in the Buzsák and Tamási regions. Other companies, including HHE Group Ltd. and CanCambria Hungary Kft., have also applied for exploration rights in Csongrád and Kiskunhalas, respectively.
These new contracts build on previous efforts, as Hungary has granted similar energy concessions between 2013 and 2019, covering over 30 areas in total. The mining royalties and concession fees have provided a significant boost to the national budget while also helping to reduce Hungary’s reliance on energy imports.
In addition to the new concessions, MOL has announced a new oil field in Transdanubia, located in western Hungary. This field is expected to produce 1,200 barrels per day, with the oil being refined at the Danube Refinery in Százhalombatta. MOL has also outlined ambitious plans for the future, with an investment of approximately HUF 150 billion set for oil and natural gas production in Hungary over the next five years.
These moves signal Hungary’s continued push for greater energy sovereignty and a more self-reliant energy sector, reducing its dependence on foreign imports and strengthening its domestic energy capabilities.
