History

Since its founding in December 2012 OGD has acquired a significant exploration position in Hungary. Established with the aim of redefining the standards of oil production, O&GD combines cutting-edge technology, strategic partnerships, and a skilled workforce to ensure efficient and responsible extraction processes.
At O&GD, we take pride in our state-of-the-art facilities and a team of industry experts who pursue excellence in every aspect of our business. Our exploration and extraction activities are underpinned by a commitment to safety, reliability, and adherence to the highest industry standards.
Our unwavering dedication to environmental stewardship is evident in every facet of our operations, as we strive to minimize our ecological footprint and contribute to a cleaner, greener future.

Recent Developments

MOL
In 2023 MOL Plc, Central Europe’s leading energy company, acquired a 49% stake in the three license concessions in the Paleogene Basin where O&GD has been in the exploration phase since 2016. O&GD operates this partnership. Working together, the parties have developed a joint exploration program, identified targets ready for drilling, and have shared costs and risks.
The first well of the exploration program, Tura-D-3, was drilled in August 2023 and encountered oil at a depth of 2,100 meters. The oil extracted at Tura is processed by the MOL’s Dunai Refinery in Százhalombatta.
MVM CEEnergy
O&GD completed a successful exploration program in its Berettyóújfalú concession, drilling four wells that resulted in a commercial amount of recoverable reserve. MVM CEEnergy, a leading CEE energy trading company, acquired a 50% share in this concession company in 2023. Through this partnership O&GD has stretched beyond its traditional exploration and production activity, and established a long-term strategic partnership with one of the largest regional energy trading companies, securing the marketing of the produced natural gas. The joint venture is operated by O&GD, with an ambitious ten-well drilling program.

History, major milestones

2023

  • New gas discoveries in Berettyóújfalu and Újléta blocks (Álmosd Ny-4, Álmosd Ny-2, Álmosd D-1, Konyár Ny-7, Hencida-3)
  • New oil discovery in Mogyoród block (Tura D-3)

2022

  • New gas discoveries in Kőrös block (Szandaszőlős K-3, Szandaszőlős Ny-4)

2021

  • New gas discovery in Kőrös block (Öcsöd ÉNY-2)

2019

  • First gas was processed in the company’s Konyár Gas Processing Plant
  • New gas discoveries in Kőrös block (Szandaszőlős Ny-1, Szandaszőlős K-2)

2018

  • New gas discoveries in Berettyóújfalu (Konyár Ny-3, Konyár Ny-4, Konyár Ny-5, Konyár Ny-6) and Kőrös blocks (Mezőtúr D-4, Mezőtúr D-5)

2017

  • First gas from Újléta block
  • Significant gas infrastructure development in the NE region
  • First gas from Berettyóújfalu block
    Daily gas production exceeds 20 MMscf/d.
  • Drilling of first exploratory well in Paleogene basin (Nagykáta block)
  • New gas discoveries in Berettyóújfalu, Kőrös, Újléta blocks (Konyár E-1, Pocsaj E-1, Mezőtúr D-3, Bagamér D-1, Álmosd Ny-1, Penészlek-100, Mezőtúr D-2, Konyár Ny-1, Konyár Ny-2)

2016

  • Berettyóújfalu, Mogyoród, Nagykáta, Ócsa exploration licenses
  • OGD-Öcsöd-K production starts (Öcsöd GS)
  • Acquisition of HHE assets in Endrőd region (GP, wells, etc.)
  • OGD-Tószeg-ÉNY-1 first oil discovery, first oil production
  • OGD-Álmosd K-1 first gas discovery in Újléta block
  • OGD-Konyár É-2 first gas discovery in Berettyóújfalu block
  • Acquisition of Penészlek I. mining plot

2015

  • Szolnok 3D seismic acquisition completed.
  • Nádudvar exploration license
  • Újléta exploration license
  • Örményes I. mining plot acquisition
  • OGD-Öcsöd-K-1 & K-2 gas discoveries.
  • First gas from OGD-Mezőtúr-D-1 via HHE Endrőd GP
  • Drilling of OGD-Szanda-K-1 gas well (within Szolnok city limits)

2014

  • Drilling of OGD-Öcsöd-ENY-1 first exploratory/discovery well
  • OGD-Mezőtúr D-1 gas discovery.
  • Szolnok 3D seismic acquisition starts (524 km2) partly within the territory of the city.

2013

  • O&GD Central Ltd. established.
  • Purchase of Körös exploration license, Mezőtúr V. mining plot, Szolnok V. mining plot, Szolnok VI. mining plot, Tiszakécske I. mining plot
Assets

CONCESSIONS AND LICENCES
OGDC has participation interest in 5 Exploration Licences (Berettyóújfalu, Mogyoród, Nagykáta, Ócsa, Tiszafüred; 3 153 sqkm) and 31 Production Licenses (total area 1 005 sqkm).

Partners & Memberships

O&GD is actively forging links with universities in the region, partnerships that can provide access to cutting-edge research and technological advancements in the field of exploration. By engaging with academic institutions, we can continue to be at the cutting edge of industry innovation, ensuring that our operations remain efficient, sustainable, and in compliance with evolving environmental standards.
Building strong relationships with academic programs also allows the company to tap into a pool of skilled graduates. It will help us to identify and recruit top talent, fostering a workforce that is well-equipped to address the complex challenges of the gas and oil sector. We see the continuous access to innovation, a skilled workforce, and the platform for collaborative problem-solving that these connections provide as something that not only improves our competitiveness, but also contributes to the development of the broader industry as a whole.