Big Jackpot For This Country, Could Become Europe’s ‘Saudi Arabia’ As It Finds Treasure Worth Thousands Of Crores In…

Hungary has discovered a major oil field that could change its destiny. The reserve, found near the town of Galgahévíz in northern Hungary, is capable of producing around 1,000 barrels of crude oil per day, according to reports. The discovery was announced by Hungary’s oil and gas company MOL, which called the find “significant for the country’s energy security.”

Europe has long relied on imports for its energy needs, with most oil and gas previously coming from countries like Russia. The Ukraine war disrupted these flows. The Galgahévíz-4 well could help Hungary reduce its reliance on imports, providing a more stable and secure domestic supply.

Dr György Bacsa, Managing Director of MOL Hungary, said, “Domestic production reduces import dependency. Uncertainties surrounding supply routes make domestic sources the best option. That is why we prioritize hydrocarbon exploration in Hungary.” Experts are calling Hungary the “Saudi Arabia of Europe” because of the country’s new potential to produce oil at home.

The discovery comes amid ongoing energy tensions in the region. Hungary still imports oil from Russia, despite being a NATO member. Hungarian Foreign Minister Péter Szijjártó noted that attacks on the Druzhba pipeline, which carries Russian oil to Hungary, would be considered attacks on the country itself. Szijjártó also said that Hungary remains open to buying Russian oil due to a lack of alternatives, while some European nations reportedly purchase Russian oil indirectly at lower prices. Currently, only Hungary and Slovakia openly buy oil and gas from Russia.

This new domestic oil source could reduce Hungary’s exposure to geopolitical risks, strengthen its energy security, and give Europe a small but important step toward self-reliance.

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