A huge oil field has been discovered near two small villages in Baranya county; Istvándi and Kétújfalu.
Sources reveal that nothing has been found like this in the past 30 years and the company who discovered it could become the largest oil producer in the country, overtaking MOL.
Hungarian Horizon Energy Ltd. (HHE Ltd.) has already started producing oil at the newly discovered oil field. HHE is an affiliate of privately-owned Aspect Holdings, which purchased HHE during the early 2000s and started developing oil production together with TDE Services Ltd.
HHE produced over 6,000 barrels of oil a day by the end of February, and they are expecting to produce around 11,000 barrels a day in the coming months.
Photo credit: 7300.hu